Norwegian sovereign wealth fund holds $81.87 million in BitMine shares

The Norwegian sovereign wealth fund, the Government Pension Fund Global, holds just over 6.15 million shares in the listed company BitMine Immersion Technologies. That position was worth approximately $81.87 million as of 30 June. This gives the fund indirect exposure to Ethereum, without purchasing ETH directly itself.

In brief:

• The Norwegian sovereign wealth fund discloses a stake of $81.87 million in BitMine Immersion Technologies.
• The position gives the fund indirect exposure to Ethereum through a listed share.
• BitMine says it holds approximately 5.805 million ETH, a large portion of which is staked.

Ethereum is available at OKX and Bybit.

Indirect ETH exposure via the stock market

This is explicitly a share position in a listed company, not a direct purchase of Ethereum by the fund itself. Through the BitMine share, which trades on the stock exchange under the ticker BMNR, the sovereign wealth fund still tracks the performance of ETH. Ethereum is currently at $1.870, down 1.0% over the past 24 hours.

Notably, BitMine did not appear in Norges Bank’s semi-annual report as of 31 December 2025. The company only surfaced in the report covering the quarter that ended on 30 June 2026. When exactly the fund bought the shares and at what price is not stated in the official filing, according to The Defiant.

BitMine is deeply committed to Ethereum

BitMine Immersion Technologies positions itself as a company heavily focused on Ethereum. As of 9 August, the company reports holding approximately 5.805 million ETH. Of that, around 5.067 million ETH is staked, which means it actively contributes to the Ethereum network and receives rewards in return.

The Norwegian sovereign wealth fund is one of the largest wealth funds in the world and invests the proceeds from the oil and gas industry on behalf of the Norwegian population. The fact that this fund now has indirect exposure to Ethereum through a listed share shows that large institutional players are increasingly seeking ways to participate in the crypto market, even when they do not do so through direct purchases.