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Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) Announces 3Q2025 Financial Results and Upcoming Shareholder Call
NYSE - LSE
Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) Announces 3Q2025 Financial Results and Upcoming Shareholder Call
NEW YORK CITY, NEW YORK / ACCESS Newswire / October 24, 2025 / Financial Results Summary (unaudited)
Consensus Mining & Seigniorage Corporation ("CMSG" or "the Company") announced net income for the quarter ended September 30, 2025 of $2.1 million, or $0.95 per share, as compared to a net loss of $0.5 million, or $0.23 per share, for the prior comparable quarter of 2024.
The Company also reported net income of $6.2 million, or $2.75 per share, for the nine months ended September 30, 2025, as compared to net income of $4.9 million, or $2.17 per share, for the prior comparable year-to-date period.
Book value per share increased to $44.54 at September 30, 2025 as compared to $41.79 at the end 2024.
The Company generated $1.2 million in mining revenue for the quarter as compared to $1.0 million for the quarter ended September 30, 2024. The increase was primarily the result of higher scrypt mining revenue resulting from continued purchases of scrypt mining equipment as well as higher average prices of Dogecoin. The quarter's revenue was also impacted by lower Bitcoin rewards resulting from a diminishing level of equipment devoted to the Bitcoin network, which was partially offset by higher average prices.
The Company had Bitcoin mining operations of 143 petahash and scrypt mining operations for Litecoin/Dogecoin of 6,491 gigahash as of September 30, 2025. The Company acquired 32 machines used for scrypt mining during the third quarter of 2025 and 139 for the year-to-date period. These third quarter acquisitions added 500 gigahash to the Company's scrypt mining hashrate.
During Q3 2025, the Company mined 5.0 Bitcoin (BTC) and 631 Litecoin (LTC), all of which were retained. In addition, as a result of the scrypt mining process, the Company mined approximately 2.3 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 5.9 Bitcoin.
The Company's quarter-end cryptocurrency holdings were primarily 340 BTC and 12,105 LTC, which were valued at $38.8 million and $1.3 million respectively. The value of all cryptocurrency holdings was $40.2 million at September 30, 2025.
The cost of revenue, a figure that largely consists of hosting costs, was $0.7 million for the third 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 $1.5 million in the third quarter of 2024 to $0.8 million for the third 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.
The Company reported an operating loss of $0.3 million for the third quarter of 2025, as compared to an operating loss of $1.2 million for the comparable period of 2024.
Non-operating income for the third quarter of 2025, including changes in the fair value of our cryptocurrency holdings-coupled with interest income-was income of $3.2 million, as compared to income of $0.9 million in the third quarter of 2024. The increase was primarily a result of appreciation of our cryptocurrency holdings.
Upcoming Shareholder Call
The Company has also announced an upcoming shareholder call on October 30, 2025.
Thursday, October 30, 2025 4:15 pm ET
Online Webinar: REGISTER HERE
Phone Access: +1 (562) 247-8422 Access Code: 805-609-195
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
September 30, | December 31, | |||
2025 | 2024 | |||
(unaudited) | ||||
Assets | ||||
Current assets | ||||
Cash and cash equivalents | $ | 60,623,677 | $ | 61,251,236 |
Income tax receivables | 346,322 | 223,100 | ||
Prepaid expenses | 280,152 | 567,851 | ||
Other receivables | 80,498 | 163,736 | ||
Total current assets | 61,330,649 | 62,205,923 | ||
Non-current assets | ||||
Property and equipment, net | 3,799,842 | 4,201,154 | ||
Digital assets, net | 40,192,399 | 30,942,301 | ||
Loans receivable - related party | 360,955 | 335,045 | ||
Total non-current assets | 44,353,196 | 35,478,500 | ||
Total Assets | $ | 105,683,845 | $ | 97,684,423 |
Liabilities and Stockholders' Equity | ||||
Current liabilities | ||||
Accrued taxes | $ | 10,335 | $ | 35,314 |
Accrued accounting fees | 102,278 | 115,012 | ||
Other accrued expenses | 18,121 | 11,439 | ||
Total current liabilities | 130,734 | 161,765 | ||
Non-current liabilities | ||||
Deferred tax liabilities, net | 5,330,901 | 3,488,926 | ||
Total Liabilities | 5,461,635 | 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 | ||
Retained earnings | 13,912,897 | 7,724,419 | ||
Total Stockholders' Equity | 100,222,210 | 94,033,732 | ||
Total Liabilities and Stockholders' Equity | $ | 105,683,845 | $ | 97,684,423 |
Consensus Mining & Seigniorage Corporation
Statements of Operations
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||||
(unaudited) | |||||||||||||
Revenue: | |||||||||||||
Digital asset mining | $ | 1,167,808 | $ | 1,005,802 | $ | 3,609,198 | $ | 3,954,041 | |||||
Total revenue | 1,167,808 | 1,005,802 | 3,609,198 | 3,954,041 | |||||||||
Cost of revenues | |||||||||||||
Hosting fees | 688,442 | 734,126 | 2,051,405 | 2,115,582 | |||||||||
Total cost of revenues | 688,442 | 734,126 | 2,051,405 | 2,115,582 | |||||||||
Operating expenses: | |||||||||||||
Depreciation expense | 579,973 | 1,298,041 | 1,749,970 | 2,870,004 | |||||||||
Loss on disposal of property and equipment | 59,923 | - | 170,391 | - | |||||||||
General and administrative expenses | 180,424 | 186,761 | 487,066 | 422,610 | |||||||||
Total operating expenses | 820,320 | 1,484,802 | 2,407,427 | 3,292,614 | |||||||||
Operating loss | (340,954 | ) | (1,213,126 | ) | (849,634 | ) | (1,454,155 | ) | |||||
Non-operating income (expense): | |||||||||||||
Net change in unrealized appreciation on digital assets | 2,550,510 | 136,171 | 6,950,361 | 5,659,002 | |||||||||
Interest income | 620,416 | 775,143 | 1,852,046 | 2,349,375 | |||||||||
Realized gain (loss) on sale of digital assets | 1,176 | (3,308 | ) | (8,597 | ) | 21,450 | |||||||
Other income | - | - | - | 935 | |||||||||
Total non-operating income | 3,172,102 | 908,006 | 8,793,810 | 8,030,762 | |||||||||
Income (loss) before income taxes | 2,831,148 | (305,120 | ) | 7,944,176 | 6,576,607 | ||||||||
Provision for income taxes | 691,168 | 214,614 | 1,755,698 | 1,691,223 | |||||||||
Net income (loss) | $ | 2,139,980 | $ | (519,734 | ) | $ | 6,188,478 | $ | 4,885,384 | ||||
Basic and diluted net income (loss) per share | $ | 0.95 | $ | (0.23 | ) | $ | 2.75 | $ | 2.17 | ||||
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 www.consensusmining.com.
Investor Relations Contact:
SOURCE: Consensus Mining & Seigniorage Corporation
View the original press release on ACCESS Newswire
(K.Lee--TAG)
