FG Nexus Dumps ETH at $45.2M Loss to Buy Mobile Home Parks

An Aug. 12 SEC filing states FG Nexus recorded a $45.207 million loss from its discontinued digital-asset operations and held no cryptocurrency at June 30. The filing says the company ended its less-than-year-old Ethereum treasury strategy and sold all remaining ETH.

In the first half of 2026 the firm reported $60.956 million in cash proceeds from ETH sales and a $14.983 million receivable from digital-asset sales as of June 30, which was collected in July. Those amounts are gross sale proceeds. Staking revenue for the period totaled $144,000.

The $45.207 million loss comprised a $41.167 million loss on ETH digital assets, $2.793 million of impairment on digital intangibles and $1.789 million of general and administrative expenses. The total was partly offset by a $398,000 gain on digital intangibles and the staking revenue. FG Nexus reported a consolidated net loss of about $56.9 million for the first half of 2026.

The company announced the Ethereum treasury plan in July 2025 and launched the digital-asset operation in August 2025. At its peak the firm held more than 50,000 ETH. The firm began divesting those holdings in 2026 and completed liquidation before June 30.

Following the liquidation, the board approved plans to form an operating subsidiary focused on land-lease manufactured-housing properties. The company is evaluating a potential combination with FG Communities as a route into income-producing affordable housing. A special committee is reviewing the proposal and no definitive agreement has been reached.

The filing included comments from Kyle Cerminara, chairman and chief executive, who described manufactured housing as “one of the most compelling combinations of durable cash flow, intrinsic asset value, and long-term demand tailwinds in the United States” and indicated the company intends to reallocate capital from digital assets to cash-flowing real estate.