South Korea’s Crypto Traders Flock to $3.6 Billion Ether Hoarder

BitMine Immersion Technologies Inc. has become the top foreign equity pick among South Korean retail investors, who continue to be drawn to the kind of high-risk, high-reward opportunities on offer in crypto.

Backed by Peter Thiel’s Founders Fund, BitMine is a US-listed Bitcoin miner that recently transitioned from Bitcoin mining to operating as a digital-asset treasury — a listed entity designed primarily to accumulate and hold cryptocurrency. The company now boasts the largest Ether treasury with $3.6 billion worth of the token, according to data compiled by strategicethreserve.xyz.