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Home Press Release Accesswire

Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) Announces 2Q2025 Financial Results and Upcoming Shareholder Call

August 8, 2025
in Accesswire, Artificial Intelligence, Cryptocurrencies
Reading Time: 18 mins read
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WHITE PLAINS, NY / ACCESS Newswire / August 7, 2025 / Financial Results Summary (unaudited)

Consensus Mining & Seigniorage Corporation (“CMSG” or “the Company”) announced net income for the quarter ended June 30, 2025 (the “Period”) of $6.7 million, or $2.99 per share, as compared to a net loss of $1.7 million, or $0.76 per share, for the prior comparable quarter of 2024.

The Company also reported net income of $4.0 million, or $1.80 per share, for the six months ended June 30, 2025 as compared to net income of $5.4 million, or $2.40 per share, for the prior comparable year-to-date period.

Book value per share increased to $43.59 at June 30, 2025 as compared to $41.79 at the end 2024.

The Company generated $1.1 million in mining revenue for the Period, compared to $1.4 million for the quarter ended June 30, 2024. The decrease was primarily the result of lower Bitcoin rewards subsequent to the April 2024 halving, which was partially offset by higher scrypt mining revenue resulting from higher average prices of Dogecoin.

The Company has Bitcoin mining operations of 156 petahash and scrypt mining operations for Litecoin/Dogecoin of 5,998 gigahash as of June 30, 2025. The Company acquired 46 Antminer L9 machines used for scrypt mining during the second quarter of 2025 and 82 for the year to date period. These second quarter acquisitions added 736 gigahash to the Company’s scrypt mining hashrate. Our cost per megahash for this acquired equipment dropped from $0.70 per megahash to $0.58 per megahash.

During Q2 2025, the Company mined 5.8 Bitcoin (BTC) and 665 Litecoin (LTC), all of which were retained. In addition, as a result of the scrypt mining process, the Company mined approximately 2.5 million Dogecoin (DOGE), which were sold for approximately $0.5 million. A portion of the DOGE mining rewards was used to acquire 0.9 BTC, bringing the total amount of Bitcoin added for the quarter to 6.7 Bitcoin.

The Company’s quarter-end cryptocurrency holdings were primarily 334 BTC and 11,474 LTC, which were valued at $35.8 million and $1.0 million respectively. The Period-end value of all cryptocurrency holdings was $36.9 million.

The cost of revenue, a figure that largely consists of hosting costs, was $0.7 million for the second quarter of 2025, consistent with $0.7 million for the prior comparable quarter.

Operating expenses-which include depreciation of mining equipment as well as general administrative expenses-declined from $0.9 million in the second quarter of 2024 to $0.8 million in the second quarter of 2025. This was primarily due to lower depreciation expenses for certain equipment becoming fully depreciated or disposed of during the second half of 2024.

For the Period, the Company reported an operating loss of $0.4 million, compared to an operating loss of $0.2 million for the comparable period of 2024.

Non-operating income for the Period, including changes in the fair value of our cryptocurrency holdings-coupled with interest income-was income of $8.8 million, as compared to a loss of $2.0 million in the second quarter of 2024. The increase was primarily a result of higher fair value of our cryptocurrency holdings.

Upcoming Shareholder Call

The Company has also announced an upcoming shareholder call with Chief Strategy Officer, Murray Stahl, on August 14, 2025. This call marks the successful conclusion of its application process with OTC and FINRA; its common stock is now quoted on the OTCQX under the ticker CMSG. The Company has 2,250,009 shares outstanding, out of 5,000,000 shares authorized.

Thursday, August 14, 2025 3pm EST

Online Webinar: REGISTER HERE
Phone Access: +1 (562) 247-8422 Access Code: 578-432-742
Only online participants can submit questions during the webinar.

Formally founded in 2021, CMSG is a dedicated cryptocurrency mining company, formed from the merger of two predecessor mining entities-Horizon Kinetics Cryptocurrency Mining LLC I and II. Across eight years of combined operating history, the firm that is now CMSG has delivered positive operating cash flows even throughout prolonged “crypto winters.”

The Company’s long-term mission is to steadily accumulate Bitcoin and other fixed-supply cryptocurrencies via self-sustaining, cash-flow positive cryptocurrency mining operations. Mirroring its measured capital deployment strategy, CMSG operates under a conservative capital structure with ample liquidity. It likewise maintains minimal overhead and a lean cost structure to enhance profitability and sustainable return on equity.

This press release shall constitute neither an offer to sell-nor the solicitation of an offer to buy-any securities. Nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Consensus Mining & Seigniorage Corporation
Balance Sheets

June 30,

December 31,

2025

2024

(unaudited)

Assets

Current assets

Cash and cash equivalents

$

60,792,160

$

61,251,236

Federal tax receivable

171,715

223,100

Prepaid expenses

185,042

567,851

Other receivables

80,268

163,736

Total current assets

61,229,185

62,205,923

Non-current assets

Property and equipment, net

4,201,357

4,201,154

Digital assets, net

36,890,729

30,942,301

Loans receivable – related party

352,008

335,045

Total non-current assets

41,444,094

35,478,500

Total Assets

$

102,673,279

$

97,684,423

Liabilities and Stockholders’ Equity

Current liabilities

Accrued taxes

$

5,201

$

35,314

Accrued accounting fees

70,640

115,012

Other accrued expenses

43,281

11,439

Total current liabilities

119,122

161,765

Non-current liabilities

Deferred tax liabilities, net

4,471,926

3,488,926

Total Liabilities

4,591,048

3,650,691

Commitments and contingencies (Note 5)

Stockholders’ Equity

Common stock ($0.01 par value, 5,000,000 shares authorized, 2,250,009 issued and outstanding)

22,500

22,500

Additional paid-in capital

86,286,813

86,286,813

Accumulated deficit

11,772,918

7,724,419

Total Stockholders’ Equity

98,082,231

94,033,732

Total Liabilities and Stockholders’ Equity

$

102,673,279

$

97,684,423

Consensus Mining & Seigniorage Corporation
Statements of Operations

Three Months Ended June 30,

Six Months Ended June 30,

2025

2024

2025

2024

(unaudited)

Revenue:

Digital asset mining

$

1,091,075

$

1,400,494

$

2,441,390

$

2,948,239

Total revenue

1,091,075

1,400,494

2,441,390

2,948,239

Cost of revenues

Hosting fees

692,417

716,517

1,362,963

1,381,456

Total cost of revenues

692,417

716,517

1,362,963

1,381,456

Operating expenses:

Depreciation expense

567,354

810,791

1,169,996

1,558,131

Loss on disposal of property and equipment

61,256

–

110,467

–

General and administrative expenses

179,695

113,636

306,642

235,849

Total operating expenses

808,305

924,427

1,587,105

1,793,980

Operating loss

(409,647

)

(240,450

)

(508,678

)

(227,197

)

Non-operating income (expense):

Net change in unrealized appreciation on digital assets

8,186,510

(2,769,808

)

4,399,851

5,522,831

Interest income

616,948

783,451

1,231,629

1,574,232

Realized gain (loss) on sale of digital assets

(1,837

)

(15,975

)

(9,773

)

10,926

Other income

–

935

–

935

Total non-operating income

8,801,621

(2,001,397

)

5,621,707

7,108,924

Income (loss) before income taxes

8,391,974

(2,241,847

)

5,113,029

6,881,727

Provision for income taxes

1,660,030

(527,016

)

1,064,530

1,476,609

Net income (loss)

$

6,731,944

$

(1,714,831

)

$

4,048,499

$

5,405,118

Basic and diluted net income (loss) per share

$

2.99

$

(0.76

)

$

1.80

$

2.40

Weighted average shares (basic and diluted)

2,250,009

2,250,009

2,250,009

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 http://www.consensusmining.com.

Investor Relations Contact:
[email protected]

SOURCE: Consensus Mining & Seigniorage Corporation

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