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Norway wealth fund shows $81.9 million stake in BitMine

The filing covers a 6,151,062-share position valued at $81.9 million as of June 30, providing indirect Ethereum exposure through BitMine’s ETH holdings.

Reported · Written up by our desk · Market Structure

Norway’s Government Pension Fund Global disclosed a position in BitMine Immersion Technologies worth $81,870,635, according to a Norges Bank holdings filing for the quarter ended June 30. The fund reported holding 6,151,062 shares of BitMine, an indirect way to gain exposure to Ethereum through the company’s stock rather than a direct ETH purchase.

The disclosure also shows the stake was not present in the manager’s Dec. 31 holdings report, but BitMine appeared in the June 30 update. The filings do not include details on when the shares were acquired or the price paid.

BitMine describes itself as an Ethereum treasury and blockchain-infrastructure company. In an Aug. 10 announcement filed as an SEC exhibit, the company reported holding 5,805,238 ETH and said its crypto, cash, marketable securities and other investments totaled $11.6 billion as of Aug. 9, with part of that ETH staked.

Because the Norway fund holds BitMine shares, the reported position value would reflect BitMine’s ETH holdings alongside its financing and operations. The fund’s disclosure comes as Norges Bank Investment Management said the Government Pension Fund Global was worth 22.683 trillion kroner at June 30, with 72.1 percent invested in equities.

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