Thursday, 06 August 2026 04:25 PM
Conference Call
NEW YORK CITY, NY / ACCESS Newswire / August 6, 2026 / Financial Results Summary (unaudited)
Consensus Mining & Seigniorage Corporation ("CMSG" or "the Company") (OTCQX:CMSG) announced a net loss for the quarter ended June 30, 2026 of $2.7 million, or $1.19 per share, as compared to net income of $6.7 million, or $2.99 per share, for the second quarter of 2025.
As previously disclosed, on May 7, 2026, the Company's Board of Directors approved a share repurchase program (the "Program") pursuant to which the Company is authorized to repurchase up to $5 million of the Company's common stock. The Program authorizes the repurchase of common stock from time to time on the open market or in privately negotiated transactions, including under 10b5-1 plans. During the three months ended June 30, 2026, the Company repurchased an aggregate of 67,636 shares of common stock under the Program, at a weighted average price of $30.69 per share, for total consideration of $2.1 million. As of June 30, 2026, the Company had $2.9 million of remaining capacity under the Program.
Book value per share outstanding decreased to $37.35 at June 30, 2026 as compared to $43.59 at June 30, 2025.
The Company generated $0.5 million in digital asset mining revenue for the quarter as compared to $1.1 million for the quarter ended June 30, 2025. The decrease was primarily due to the combined effect of less bitcoin mined in 2026 as compared to 2025 and at a lower average price. However, the Company's results from scrypt mining also declined as a result of lower mining reward volumes and a lower average price, primarily related to Dogecoin. The Company also recently initiated operating Zcash mining equipment, but the impact was not significant to the second quarter.
The Company has Bitcoin mining operations of 97 petahash and scrypt mining operations for Litecoin/Dogecoin of 4,872 gigahash as of June 30, 2026.
During the second quarter of 2026, the Company mined 3.2 Bitcoin (BTC) and 491 Litecoin (LTC), all of which were retained. In addition, as a result of the scrypt mining process, the Company mined approximately 1.8 million Dogecoin (DOGE), which were sold for approximately $0.2 million. A portion of the DOGE mining rewards was used to acquire 0.5 BTC, bringing the total amount of Bitcoin added for the quarter to 3.7 Bitcoin.
The Company's quarter-end cryptocurrency holdings were primarily 354 BTC and 13,724 LTC, which were valued at $17.3 million and $0.6 million respectively. The value of all cryptocurrency holdings was $21.3 million at June 30, 2026.
The cost of revenue, a figure that largely consists of hosting costs, was $0.4 million for the second quarter of 2026, which was lower than the $0.7 million for the comparable quarter in the prior year due to the lower volume of equipment being operated during 2026.
Operating expenses-which include recurring depreciation of mining equipment as well as general administrative expenses-decreased to $0.5 million in the second quarter of 2026 compared to $0.8 million for the second quarter of 2025. This decrease is primarily the result of lower depreciation expense for the quarter due to equipment that was removed or impaired in prior periods.
Non-operating income (expense) for the second quarter of 2026, including changes in the fair value of our cryptocurrency holdings-coupled with interest income-was a loss of $3.1 million, compared to income of $8.8 million in the second quarter of 2025. The decrease was primarily a result of the unrealized loss from the reduction in the fair value of our cryptocurrency holdings.
Upcoming Shareholder Call
The Company has also announced an upcoming shareholder call on August 10, 2026.
Monday, August 10, 2026 4:15 pm ET
Online Webinar: REGISTER HERE
Phone Access: +1 (562) 247-8422 Access Code: 539-203-208
Only online participants can submit questions during the webinar.
Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) is a cryptocurrency mining company created with strategic partnerships in hosting, repair, and management. This enables CMSG to operate with minimal overhead and enhanced profitability, and with a conservative capital structure that allows for flexible and patient capital allocation. For more information, please visit www.consensusmining.com.
Investor Relations Contact: [email protected]
Consensus Mining & Seigniorage Corporation
Balance Sheets
|
| June 30, |
|
| December 31, |
| ||
|
| 2026 |
|
| 2025 |
| ||
|
| (unaudited) |
|
|
|
| ||
Assets |
|
|
|
|
|
| ||
Current assets |
|
|
|
|
|
| ||
Cash and cash equivalents |
| $ | 58,525,603 |
|
| $ | 60,533,066 |
|
Investments, at fair value |
|
| 7,700 |
|
|
| - |
|
Federal tax receivable |
|
| 487,660 |
|
|
| 344,777 |
|
Prepaid expenses |
|
| 194,241 |
|
|
| 198,441 |
|
Other receivables |
|
| 172,958 |
|
|
| 80,498 |
|
Loans receivable - related party |
|
| - |
|
|
| 370,130 |
|
Total current assets |
|
| 59,388,162 |
|
|
| 61,526,912 |
|
|
|
|
|
|
|
|
| |
Non-current assets |
|
|
|
|
|
|
|
|
Property and equipment, net |
|
| 1,514,854 |
|
|
| 3,395,958 |
|
Digital assets, net |
|
| 21,330,946 |
|
|
| 31,332,392 |
|
Total non-current assets |
|
| 22,845,800 |
|
|
| 34,728,350 |
|
Total Assets |
| $ | 82,233,962 |
|
| $ | 96,255,262 |
|
Liabilities and Stockholders' Equity |
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
Accrued taxes |
| $ | 57,061 |
|
| $ | 18,577 |
|
Accrued accounting fees |
|
| 84,862 |
|
|
| 83,647 |
|
Accrued hosting fees |
|
| - |
|
|
| 9,809 |
|
Other accrued expenses |
|
| 22,905 |
|
|
| 43,803 |
|
Total current liabilities |
|
| 164,828 |
|
|
| 155,836 |
|
Non-current liabilities |
|
|
|
|
|
|
|
|
Deferred tax liabilities, net |
|
| 564,884 |
|
|
| 3,210,612 |
|
Total Liabilities |
|
| 729,712 |
|
|
| 3,366,448 |
|
|
|
|
|
|
|
|
| |
Commitments and contingencies (Note 4) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Stockholders' Equity |
|
|
|
|
|
|
|
|
Common stock ($0.01 par value, 5,000,000 shares authorized;, 2,250,009 issued; 2,182,373 and 2,250,009 outstanding at June 30, 2026 and December 31, 2025, respectively) |
|
| 22,500 |
|
|
| 22,500 |
|
Additional paid-in capital |
|
| 86,286,813 |
|
|
| 86,286,813 |
|
Treasury stock, at cost, 67,636 and 0 shares at June 30, 2026 and December 31, 2025, respectively |
|
| (2,075,757 | ) |
|
| - |
|
(Accumulated deficit) retained earnings |
|
| (2,729,306 | ) |
|
| 6,579,501 |
|
Total Stockholders' Equity |
|
| 81,504,250 |
|
|
| 92,888,814 |
|
Total Liabilities and Stockholders' Equity |
| $ | 82,233,962 |
|
| $ | 96,255,262 |
|
Consensus Mining & Seigniorage Corporation
Statements of Operations
|
| Three Months Ended June 30, |
|
| Six Months Ended June 30, |
| ||||||||||
|
| 2026 |
|
| 2025 |
|
| 2026 |
|
| 2025 |
| ||||
|
| (unaudited) |
| |||||||||||||
Digital asset mining revenues |
| $ | 462,275 |
|
| $ | 1,091,075 |
|
| $ | 966,817 |
|
| $ | 2,441,390 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues - hosting fees |
|
| 420,142 |
|
|
| 692,417 |
|
|
| 988,534 |
|
|
| 1,362,963 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation expense |
|
| 277,707 |
|
|
| 567,354 |
|
|
| 833,081 |
|
|
| 1,169,996 |
|
Losses on disposals, net |
|
| 24,162 |
|
|
| 61,256 |
|
|
| 60,090 |
|
|
| 110,467 |
|
Impairment of property & equipment |
|
| - |
|
|
| - |
|
|
| 1,069,328 |
|
|
| - |
|
General and administrative expenses |
|
| 208,040 |
|
|
| 179,695 |
|
|
| 401,198 |
|
|
| 306,642 |
|
Total operating expenses |
|
| 509,909 |
|
|
| 808,305 |
|
|
| 2,363,697 |
|
|
| 1,587,105 |
|
Operating loss |
|
| (467,776 | ) |
|
| (409,647 | ) |
|
| (2,385,414 | ) |
|
| (508,678 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-operating income (expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in unrealized depreciation on digital assets |
|
| (3,618,812 | ) |
|
| 8,186,510 |
|
|
| (10,640,106 | ) |
|
| 4,399,851 |
|
Interest income |
|
| 503,319 |
|
|
| 616,948 |
|
|
| 1,013,505 |
|
|
| 1,231,629 |
|
Realized loss on sale of digital assets |
|
| 314 |
|
|
| (1,837 | ) |
|
| (1,104 | ) |
|
| (9,773 | ) |
Unrealized (loss) on investments, net |
|
| (3,357 | ) |
|
| - |
|
|
| (3,863 | ) |
|
| - |
|
Total non-operating income |
|
| (3,118,536 | ) |
|
| 8,801,621 |
|
|
| (9,631,568 | ) |
|
| 5,621,707 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before income taxes |
|
| (3,586,312 | ) |
|
| 8,391,974 |
|
|
| (12,016,982 | ) |
|
| 5,113,029 |
|
(Benefit from) provision for income taxes |
|
| (923,560 | ) |
|
| 1,660,030 |
|
|
| (2,708,176 | ) |
|
| 1,064,530 |
|
Net income (loss) |
| $ | (2,662,752 | ) |
| $ | 6,731,944 |
|
| $ | (9,308,806 | ) |
| $ | 4,048,499 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted net loss per share |
| $ | (1.19 | ) |
| $ | 2.99 |
|
| $ | (4.15 | ) |
| $ | 1.80 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares (basic and diluted) |
|
| 2,239,024 |
|
|
| 2,250,009 |
|
| $ | 2,244,486 |
|
| $ | 2,250,009 |
|
About CMSG
Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) is a cryptocurrency mining company created with strategic partnerships in hosting, repair, and management. This enables CMSG to operate with minimal overhead and enhanced profitability, and with a conservative capital structure that allows for flexible and patient capital allocation. For more information, please visit www.consensusmining.com.
Investor Relations Contact:
SOURCE: Consensus Mining & Seigniorage Corporation