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Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) Announces 1Q2026 Financial Results and Upcoming Shareholder Call
Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) Announces 1Q2026 Financial Results and Upcoming Shareholder Call
NEW YORK CITY, NY / ACCESS Newswire / May 4, 2026 /
Financial Results Summary (unaudited)
Consensus Mining & Seigniorage Corporation ("CMSG" or "the Company") announced a net loss for the quarter ended March 31, 2026 of $6.6 million, or $2.95 per share, as compared to a net loss of $2.7 million, or $1.19 per share, for the first quarter of 2025.
Book value per share decreased to $38.33 at March 31, 2026 as compared to $41.28 at March 31, 2025.
The Company generated $0.5 million in mining revenue for the quarter as compared to $1.4 million for the quarter ended March 31, 2025. The decrease was due to the combined effect of less bitcoin mined in 2026 as compared to 2025 and at a lower average price. Similarly, 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 has Bitcoin mining operations of 107 petahash and scrypt mining operations for Litecoin/Dogecoin of 4,872 gigahash as of March 31, 2026.
During the first quarter of 2026, the Company mined 3.7 Bitcoin (BTC) and 504 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 4.2 Bitcoin.
The Company's quarter-end cryptocurrency holdings were primarily 350 BTC and 13,233 LTC, which were valued at $23.9 million and $0.7 million respectively. The value of all cryptocurrency holdings was $24.7 million at March 31, 2026.
The cost of revenue, a figure that largely consists of hosting costs, was $0.6 million for the first quarter of 2026, consistent with $0.7 million for the comparable quarter in the prior year.
Operating expenses-which included a $1.1 million impairment loss, recurring depreciation of mining equipment as well as general administrative expenses-increased to $1.9 million in the first quarter of 2026 compared to $0.8 million for the first quarter of 2025.
The Company reported an operating loss of $1.9 million for the first quarter of 2026, as compared to an operating loss of $0.1 million for the comparable period of 2025.
Non-operating income (expense) for the first quarter of 2026, including changes in the fair value of our cryptocurrency holdings-coupled with interest income-was a loss of $6.5 million, compared to a loss of $3.2 million in the first quarter of 2025. The decrease was primarily a result of depreciation of our cryptocurrency holdings.
Upcoming Shareholder Call
The Company has also announced an upcoming shareholder call on May 7, 2026.
Thursday, May 7, 2026 4:15 pm ET
Online Webinar: REGISTER HERE
Phone Access: +1 (415) 655-0060 Access Code: 926-307-834
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
March 31, | December 31, | |||
2026 | 2025 | |||
(unaudited) |
| |||
Assets |
|
| ||
Current assets |
|
| ||
Cash and cash equivalents | $ | 60,793,261 | $ | 60,533,066 |
Federal tax receivable | 338,651 | 344,777 | ||
Prepaid expenses | 65,270 | 198,441 | ||
Other receivables | 175,658 | 80,498 | ||
Loans receivable - related party | - | 370,130 | ||
Total current assets | 61,372,840 | 61,526,912 | ||
Non-current assets | ||||
Property and equipment, net | 1,735,328 | 3,395,958 | ||
Digital assets, net | 24,653,757 | 31,332,392 | ||
Total non-current assets | 26,389,085 | 34,728,350 | ||
Total Assets | $ | 87,761,925 | $ | 96,255,262 |
Liabilities and Stockholders' Equity | ||||
Current liabilities | ||||
Accrued taxes | $ | 38,949 | $ | 18,577 |
Accrued accounting fees | 47,662 | 83,647 | ||
Accrued hosting fees | - | 9,809 | ||
Other accrued expenses | 18,417 | 43,803 | ||
Total current liabilities | 105,028 | 155,836 | ||
Non-current liabilities | ||||
Deferred tax liabilities, net | 1,414,138 | 3,210,612 | ||
Total Liabilities | 1,519,166 | 3,366,448 | ||
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) retained earnings | (66,554 | ) | 6,579,501 | |
Total Stockholders' Equity | 86,242,759 | 92,888,814 | ||
Total Liabilities and Stockholders' Equity | $ | 87,761,925 | $ | 96,255,262 |
Consensus Mining & Seigniorage Corporation
Statements of Operations
Three Months Ended March 31, | ||||||
2026 | 2025 | |||||
(unaudited) | ||||||
Digital asset mining revenues | $ | 504,542 | $ | 1,350,315 | ||
Cost of revenues - hosting fees | 568,392 | 670,546 | ||||
Operating expenses: | ||||||
Depreciation expense | 555,374 | 602,642 | ||||
Losses on disposals, net | 35,928 | 49,211 | ||||
Impairment of property & equipment | 1,069,328 | - | ||||
General and administrative expenses | 193,158 | 126,947 | ||||
Total operating expenses | 1,853,788 | 778,800 | ||||
Operating loss | (1,917,638 | ) | (99,031 | ) | ||
Non-operating income (expense): | ||||||
Net change in unrealized depreciation on digital assets | (7,021,294 | ) | (3,786,659 | ) | ||
Interest income | 510,186 | 614,681 | ||||
Realized loss on sale of digital assets | (1,419 | ) | (7,936 | ) | ||
Other expense | (506 | ) | - | |||
Total non-operating income | (6,513,033 | ) | (3,179,914 | ) | ||
Loss before income taxes | (8,430,671 | ) | (3,278,945 | ) | ||
(Benefit from) provision for income taxes | (1,784,616 | ) | (595,500 | ) | ||
Net loss | $ | (6,646,055 | ) | $ | (2,683,445 | ) |
Basic and diluted net loss per share | $ | (2.95 | ) | $ | (1.19 | ) |
Weighted average shares (basic and diluted) | 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)
