BitMine has become the most popular overseas stock among South Korean retail investors, who remain drawn to the high-risk, high-reward opportunities in the crypto space. According to data from the Korea Securities Depository and Clearing Corporation (KSDC), South Korean retail investors have invested a net $259 million in BitMine shares since the beginning of July, making it the most purchased overseas stock during that period.

BitMine aims to replicate the business model of Michael Saylor's strategy, but with a focus on Ethereum rather than Bitcoin. The company currently holds $3.6 billion worth of Ethereum, the largest in the world. However, volatility remains a hallmark of such stocks. BitMine's stock price surged over 3,000% to a high in July after announcing plans to accumulate a large amount of Ethereum, but subsequently plummeted 62%. (Bloomberg)