The Government Pension Fund Global, known as Norway’s Wealth Fund, held 6,151,062 shares in BitMine Immersion Technologies, which is known for its Ethereum-focused treasury strategy, as of June 30, 2026. The shares, disclosed by Norges Bank Investment Management (NBIM), were valued at a total of $81,870,635.
The position does not indicate that the fund purchased Ethereum directly. The fund’s exposure to Ethereum comes through shares in publicly traded BitMine, which holds a large amount of ETH.
Purchase date and cost information not disclosed
BitMine was not included in the Government Pension Fund Global’s portfolio as of December 31, 2025, but appeared among its holdings as of June 30, 2026. The disclosed documents do not specify when the shares were acquired or the fund’s average purchase cost.
BitMine shares trade on the New York Stock Exchange (NYSE) under the ticker BMNR. The company was added to the Russell 1000 index on June 26, 2026; however, current documents do not directly link the fund’s investment decision to this development.
BitMine’s Ethereum reserves
Data published on August 14 stated that BitMine held 5,805,238 ETH as of August 9. Of this amount, 5,067,309 ETH was being used in staking. The total value of the company’s crypto assets, cash, securities, and other investments stood at approximately $11.6 billion.
The company had previously said it would continue its ETH accumulation strategy, in line with its goal of reaching 5% of the circulating Ethereum supply.
Fund’s first-half figures
The Government Pension Fund Global, whose results were announced by NBIM on August 12, returned 9.4% in the first half of 2026 and reached a value of 22.683 trillion Norwegian kroner at the end of the period. Equities accounted for 72.1% of the portfolio, while fixed-income investments made up 25.8%; the remainder was invested in real estate and renewable energy infrastructure.
The disclosed records show the size of the BitMine position, while indicating that uncertainty remains about when the shares were acquired and their cost.
