Norway wealth fund invests $81.87M in BitMine for ETH exposure

Norway’s wealth fund invested $81.87M in BitMine, gaining indirect Ethereum exposure via equity in a company holding 5.8M ETH, most of which is staked.

Norway’s Government Pension Fund Global has revealed an $81.87 million equity stake in BitMine Immersion Technologies, acquiring about 6.15 million shares as of June 30. This move grants the fund indirect exposure to Ethereum, as BitMine holds approximately 5.8 million ETH, with over 5 million staked for yield. This investment marks a strategic shift, with the fund choosing to gain digital asset exposure via a publicly traded company rather than direct cryptocurrency purchases. BitMine recently transitioned from Bitcoin mining to an Ethereum-focused treasury and staking model, making its ETH holdings a significant part of the circulating supply. The timing and purchase price of the shares were not disclosed, but filings confirm the position was established after December 2025. With total assets reaching 22.683 trillion kroner at midyear and 72.1% invested in equities, the fund’s move highlights growing institutional interest in Ethereum and a trend toward crypto exposure through equity investments.