Corporate crypto treasury strategies remain in focus. In today’s crypto update, FG Nexus has fully exited its Ethereum position after incurring losses exceeding $85 million. Meanwhile, Bitmine continues to increase its ETH holdings despite the recent market downturn.
FG Nexus Buys High and Sells Low on Ethereum
Market intelligence platform Lookonchain reported in a recent X post, citing Arkham data, that FG Nexus has fully exited its Ethereum position after selling its remaining 15,000 ETH for $28.4 million, locking in losses exceeding $85 million. Interestingly, the latest sale marked the end of the Nasdaq-listed firm’s Ethereum treasury strategy, which once positioned ETH as its primary reserve asset.
For context, the Nasdaq-listed firm had accumulated 50,770 ETH between August and September 2025, valued at approximately $196 million at an average purchase price of $3,860 per token. At the time, Ethereum was trading near cycle highs, reflecting the company’s strong conviction in the asset.
However, market conditions soon shifted. As Ethereum declined, FG Nexus began offloading its holdings in November 2025 after ETH fell to around $2,330. Lookonchain reported that the company sold 36,025 ETH for approximately $83.92 million. Combined with the liquidation of its remaining holdings, the transactions locked in cumulative losses exceeding $85 million.
Treasury Strategy Faces Scrutiny
FG Nexus’s losses have renewed debate over corporate cryptocurrency treasury strategies. While digital assets can generate substantial gains during bull markets, they can also expose companies to steep losses when prices fall sharply.
Meanwhile, the discussion comes as corporate treasury activity remains in focus across the industry. Recently, Strategy disclosed the sale of 32 BTC worth approximately $2.47 million, a move that attracted attention despite representing only a small fraction of the company’s overall Bitcoin holdings.
However, not all treasury firms are turning cautious. On the contrary, Tom Lee-backed Bitmine remains bullish on Ethereum despite the recent market weakness. CoinRemark recently reported that Bitmine purchased an additional 25,000 ETH, worth approximately $47.98 million, during the latest market dip, further expanding its already sizable Ethereum treasury.
The purchase comes as Bitmine continues to strengthen its position as the largest corporate Ethereum holder. Lookonchain noted that the company currently holds 5,416,901 ETH valued at roughly $10.03 billion, underscoring its long-term confidence in the asset despite ongoing market volatility.
Despite the setback, Ethereum remains one of the most widely held digital assets among institutional investors. However, according to CoinMarketCap, ETH is currently down 5.2% over the past 24 hours, trading around $1,778 as investors continue to monitor corporate treasury activity and broader market conditions.
Josiah Oluwadare
