Bloomberg: Despite an 80% pullback in BitMine's stock price, it is still being bet on by South Korean investors against the trend.

PANews reported on December 31 that, according to Bloomberg, despite a more than 80% drop in the share price of US-listed BitMine from its July high, it remains one of the most favored overseas stocks among South Korean investors this year. Data shows that by 2025, BitMine will rank second only to Alphabet in popularity among overseas stocks held by South Korean investors.

Backed by billionaire Peter Thiel and headed by renowned Wall Street strategist Tom Lee, the company's market bets on its "Ethereum hoarding logic" remain unshaken. As of December 29th, South Korean retail investors had net invested $1.4 billion in BitMine by 2025. They also invested $566 million in the T-Rex 2x leveraged BitMine ETF, which has fallen approximately 86% from its September peak.