FG Nexus withdraws from ETH Treasury after $45.2M Loss

FG Nexus ended its Ethereum treasury plan less than a month after it was launched by selling all digital assets. 

Nasdaq’s listed company revealed the complete exit in their Aug. 12 report. filingThe digital assets business was reclassified as discontinued operations.

According to the filing, FG Nexus has received cash payments of $60.956 millions from ETH transactions during the first six months of 2026. At June 30, $14.983 remained owing. This amount was paid in July. At the end of quarter, there were no crypto assets in company’s possession.

FG Nexus suffers $45.2M losses from the digital asset sale

FG Nexus announced a $45.207-million loss for its digital asset operations that were discontinued in the first six month of 2026. This total consisted of a loss of $41.167 millions on ETH digital asset, a depreciation on digital intangibles assets worth $2.793million and $1.789million for general and administrative costs.

These numbers are crucial because they should not only be viewed as a realized loss on the sale of ETH. It also reported a gain of $398,000 on digital intangibles and a staking income of only $144,000. The company’s net loss for its broader, consolidated first-half totaled $56,928.

FG Nexus has also stated that it began its digital asset trading business in August. On Sept. 28 the company had reported that it held 50,770 Ethereum, which was valued at around $207 millions using the reference price of the time. The average price paid for the ETH at this point in time was $3,860.

As was previously reported, FG Nexus raised $200 million while making Ethereum its primary treasury assetIn June, however, the company was unwinding that position. The company began to reverse its decision by June. Crypto.news reported later that FG Nexus moved another 10,000 ETH as its treasury losses widened.

The cash from ETH transactions is going to real estate

FG Nexus, announced July 1, that the board of directors had approved management’s decision to sell digital assets in order to create a subsidiary focusing on real estate operations, primarily land lease manufactured homes. CEO Kyle Cerminara stated that the company intends to “reallocate all of our capital from digital assets to cash flow producing real estate over the near term.” This is a plan for a company that looks to the future.

In the quarter filing, it is stated that discussions on a possible merger between the company and FG Communities are preliminary. There has not been a decision made or an agreement reached. The potential deal is being reviewed by an independent special committee, and a financial consultant has been retained to give a fairness report.

Liquidation of ETH has resulted in an increase of cash. FG Nexus had $24.9 millions in cash and equivalents as of June 30. Cash reached $51.4 million on July 31, after receiving $15.5 million in redemption proceeds from FG Merger II and the ETH sales receivable.

Next steps for FG Nexus

Next, FG Nexus will have to prove that it can convert this liquidity into property assets with a high income potential. The company is yet to announce a definitive FG Community transaction, or disclose completed acquisitions in the context of its new manufactured housing strategies. The company’s Quebec properties are still held by the company and continue to be used, despite an earlier non-binding proposal for sale that was unlikely to go through.

FGNX was trading at $7.59 per share on August 13, an increase of about 8.9% over the previous closing price. FGNX had announced their crypto exit back on July 1. The move, however, cannot be solely attributed to the quarterly announcement.

It ends a corporate Ethereum project that was intended to turn FG Nexus into a large ETH holder. This also shows how this particular Treasury strategy has a financial cost: the first half staking brought in $144,000 while the digital asset operation was discontinued recorded a loss of $45.207million.