FG Nexus Reaches 50,000 ETH Treasury, Shares Jump

FG Nexus has reached a new milestone by amassing 50,000 Ethereum (ETH), worth $210.1 million, in its corporate treasury. The firm revealed the achievement on Tuesday, sending its stock up 4.5% in pre-market trading. The average purchase price across its acquisitions stands at $3,860 per ETH. Over the past week alone, FG Nexus added 285 ETH to its reserves, buying at around $4,200. Despite this progress, the firm trails Bitmine Immersion Technologies, which leads the treasury race with over 2.4 million ETH, nearly 2% of circulating supply.

FG Nexus has set a bold target of securing a 10% stake in circulating ETH, signaling an aggressive long-term strategy. While FGNX shares remain down 68% year-to-date, investor sentiment is beginning to shift with these announcements. Bitmine, led by Tom Lee, also reported fresh gains, suggesting momentum in Ethereum accumulation among public firms. The competition underscores the growing corporate race to dominate ETH reserves globally.

You need to login in order to Like