Norwegian State Fund Acquires Shares in BitMine, Largest Ethereum Treasury

The Government Pension Fund Global of Norway acquired 6,151,062 shares of BitMine Immersion Technologies, which holds the largest institutional reserve of ether (ETH). The transaction, revealed on August 12, 2026, is valued at approximately $107 million. This acquisition provides the Norwegian fund with indirect exposure to ether through the stock market. BitMine has a treasury of 5,805,238 ETH, valued at $10.84 billion. The Norwegian sovereign fund manages nearly $2.4 trillion in assets and seeks to diversify its income from the national oil industry. Additionally, it already had stakes in other cryptocurrency companies such as Strategy, Metaplanet, MARA, and Coinbase.

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