FG Nexus has completed its exit from digital assets, selling all Ethereum holdings before June 30, 2026, according to the company's August 12 filing. The Nasdaq-listed company disclosed the completed exit, which reclassified the digital asset business as discontinued operations. The company received $60.956 million in cash from ETH sales during the first half of 2026, with an additional $14.983 million receivable collected in July. FG Nexus held no cryptocurrency at quarter end and reported a $45.207 million loss from discontinued digital asset operations for the first six months of 2026.
The company's digital asset operations generated only $144,000 in staking revenue during the first half, while recording a $41.167 million loss on ETH digital assets. Additional expenses included $2.793 million impairment on digital intangible assets and $1.789 million in general and administrative expenses. FG Nexus's broader consolidated net loss for the first half reached $56.928 million. The company had peaked at 50,770 ETH in September 2025, valued at approximately $207 million using its reference price at the time, with an average purchase price near $3,860.
On July 1, FG Nexus announced its board had authorized management to exit digital assets and create a real estate operating subsidiary focused on land lease manufactured housing properties. CEO Kyle Cerminara stated the company intended to "reallocate all of our capital from digital assets to cash flow producing real estate over the near term." The company reported $24.9 million of cash and equivalents at June 30, which increased to approximately $51.4 million by July 31 after receiving ETH sale receivables and $15.5 million from FG Merger II share redemption. FG Nexus is also considering a potential combination with FG Communities, though board discussions remain preliminary with no definitive agreement reached.
FGNX traded at $7.59 on August 13, up approximately 8.9% from the previous close, though the move cannot be attributed solely to the quarterly disclosure as the crypto exit was announced on July 1. The reversal closes a short corporate Ethereum experiment that once aimed to make FG Nexus a major ETH holder. This exit marks a strategic shift away from crypto after losses and minimal returns, with the company now aiming to build income-producing property assets. The next challenge will be whether the company can convert its increased liquidity into completed acquisitions under the new manufactured housing strategy.
