South Korean retail and young investors have driven a $259M inflow into BitMine, prompting the US Bitcoin mining company, backed by Peter Thiel, to pivot its strategy towards holding over 1.15 million ETH worth more than $4.96B amid volatile markets.
South Korean retail investors, especially young traders, have driven a net inflow of $259M into BitMine stock since July. BitMine, a US Bitcoin mining company supported by Peter Thiel, has shifted its strategy to hold over 1.15 million ETH valued at over $4.96B. The move underscores a sustained appetite for high-risk crypto-related stocks in South Korea amid volatile market dynamics and a preference for alternatives to direct cryptocurrency investments.