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Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) 3Q2026 Financial Results
Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) 3Q2026 Financial Results
Financial Results Summary (unaudited)
NEW YORK CITY, NY / ACCESS Newswire / October 29, 2026 / Consensus Mining & Seigniorage Corporation ("CMSG" or "the Company") (OTCQX:CMSG) announced net income for the quarter ended September 30, 2026 of $7.2 million, or $3.31 per share, as compared to net income of $2.1 million, or $0.95 per share, for the third quarter of 2025.
Pursuant to the Company's share repurchase program (the "Program") approved in May 2026, the Company has repurchased an aggregate of 117,161 shares of common stock, at a weighted average price of $30.80 per share, for total consideration of $3.6 million. As of September 30, 2026, the Company had $1.4 million of remaining capacity under the Program and 2,132,848 shares outstanding.
As a result of the share repurchases and the appreciation of Bitcoin during the quarter, the Company's book value per share increased to $40.87 at September 30, 2026 as compared to $37.35 at June 30, 2026.
The Company generated $0.5 million in digital asset mining revenue for the quarter as compared to $1.2 million for the quarter ended September 30, 2025. This decrease of $0.7 million, or 58%, was due to less bitcoin mined in 2026 (2.45) as compared to 2025 (5.0) at lower average prices of Bitcoin. The Company has also engaged in certain scrypt mining, which results in receiving rewards of both Litecoin and Dogecoin from the Company's third-party mining pool operator. The revenue associated with scrypt mining decreased 73% in the third quarter primarily from the decrease in average value of the dogecoin rewards received. The Company also recently began operating Zcash mining equipment during the second quarter of 2026 resulting in revenue of $135,000 for the third quarter.
The Company has Bitcoin mining operations of 97 petahash and scrypt mining operations for Litecoin/Dogecoin of 4,872 gigahash as of September 30, 2026.
During the third quarter of 2026, the Company mined 2.45 bitcoin and 465 litecoin, all of which were retained. In addition, as a result of the scrypt mining process, the Company mined approximately 1.7 million dogecoin, which were sold for approximately $0.1 million. A portion of the Dogecoin mining rewards was used to acquire 0.38 bitcoin, bringing the total amount added for the quarter to 2.8 bitcoin.
The Company's quarter-end digital asset holdings were primarily 356.4 bitcoin and 14,189 litecoin, which were valued at $29.8 million and $1.0 million, respectively. The value of all digital asset holdings was $31.0 million at September 30, 2026.
The cost of revenue, a figure that largely consists of hosting costs, was $0.4 million for the third 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 third quarter of 2026 compared to $0.8 million for the third 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 third quarter of 2026, including changes in the fair value of digital asset holdings and interest income, was income of $10.0 million, as compared to income of $3.2 million in the third quarter of 2025. The increase was primarily the result of unrealized gains from the appreciation in the fair value of our digital asset holdings.
Upcoming Shareholder Call
The Company has also announced the following upcoming shareholder call:
Tuesday, November 3, 2026 4:15 pm ET
Online Webinar: REGISTER HERE
Phone Access: +1 (562) 247-8422 Access Code: 512-310-951
Only online participants can submit questions during the webinar.
Consensus Mining & Seigniorage Corporation
Balance Sheets
| September 30, | December 31, | |||
| 2026 | 2025 | |||
| (unaudited) | ||||
Assets | ||||
Current assets | ||||
Cash and cash equivalents | $ | 57,557,299 | $ | 60,533,066 |
Investments, at fair value | 19,375 | - | ||
Income taxes receivable | 97,007 | 344,777 | ||
Prepaid expenses | 51,681 | 198,441 | ||
Other receivables | 178,896 | 80,498 | ||
Loans receivable - related party | - | 370,130 | ||
Total current assets | 57,904,258 | 61,526,912 | ||
Non-current assets | ||||
Property and equipment, net | 1,342,137 | 3,395,958 | ||
Digital assets, at fair value | 31,038,791 | 31,332,392 | ||
Total non-current assets | 32,380,928 | 34,728,350 | ||
Total Assets | $ | 90,285,186 | $ | 96,255,262 |
Liabilities and Stockholders' Equity | ||||
Current liabilities | ||||
Accrued taxes | $ | 79,669 | $ | 18,577 |
Accrued professional fees | 122,062 | 83,647 | ||
Accrued hosting fees | - | 9,809 | ||
Other accrued expenses | 33,371 | 43,803 | ||
Total current liabilities | 235,102 | 155,836 | ||
Non-current liabilities | ||||
Deferred tax liabilities, net | 2,887,191 | 3,210,612 | ||
Total Liabilities | 3,122,293 | 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; 2,132,848 and 2,250,009 outstanding at September 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, 117,161 and 0 shares at September 30, 2026 and December 31, 2025, respectively | (3,608,316 | ) | - | |
(Accumulated deficit) retained earnings | 4,461,896 | 6,579,501 | ||
Total Stockholders' Equity | 87,162,893 | 92,888,814 | ||
Total Liabilities and Stockholders' Equity | $ | 90,285,186 | $ | 96,255,262 |
Consensus Mining & Seigniorage Corporation
Statements of Operations
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||
| (unaudited) | |||||||||||||
Digital asset mining revenues | $ | 485,016 | $ | 1,167,808 | $ | 1,451,833 | $ | 3,609,198 | |||||
Cost of revenues - hosting fees | 370,926 | 688,442 | 1,359,460 | 2,051,405 | |||||||||
Operating expenses: | |||||||||||||
Depreciation expense | 276,807 | 579,973 | 1,109,888 | 1,749,970 | |||||||||
Losses on disposals, net | 65,761 | 59,923 | 125,851 | 170,391 | |||||||||
Impairment of property & equipment | - | - | 1,069,328 | - | |||||||||
General and administrative expenses | 140,906 | 180,424 | 542,104 | 487,066 | |||||||||
Total operating expenses | 483,474 | 820,320 | 2,847,171 | 2,407,427 | |||||||||
Operating loss | (369,384 | ) | (340,954 | ) | (2,754,798 | ) | (849,634 | ) | |||||
Non-operating income (expense): | |||||||||||||
Net change in unrealized appreciation (depreciation) on digital assets | 9,418,516 | 2,550,510 | (1,221,590 | ) | 6,950,361 | ||||||||
Interest income | 520,430 | 620,416 | 1,533,935 | 1,852,046 | |||||||||
Realized gain (loss) on sale of digital assets | 40 | 1,176 | (1,065 | ) | (8,597 | ) | |||||||
Unrealized (loss) on investments, net | 15,794 | - | 11,931 | - | |||||||||
Total non-operating income | 9,954,780 | 3,172,102 | 323,211 | 8,793,810 | |||||||||
Income (loss) before income taxes | 9,585,396 | 2,831,148 | (2,431,587 | ) | 7,944,176 | ||||||||
Provision for (benefit from) income taxes | 2,394,194 | 691,168 | (313,982 | ) | 1,755,698 | ||||||||
Net income (loss) | $ | 7,191,202 | $ | 2,139,980 | $ | (2,117,605 | ) | $ | 6,188,478 | ||||
Basic and diluted net income (loss) per share | $ | 3.31 | $ | 0.95 | $ | (0.95 | ) | $ | 2.75 | ||||
Weighted average shares (basic and diluted) | 2,171,296 | 2,250,009 | 2,219,821 | 2,250,009 | |||||||||
About CMSG
Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) is a digital asset mining company created with strategic partnerships in hosting, repair, and management. This enables CMSG to operate with minimal overhead and with a conservative capital structure that allows for flexible and patient capital allocation. For more information, please visit www.consensusmining.com.
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SOURCE: Consensus Mining & Seigniorage Corporation
View the original press release on ACCESS Newswire
(A.Thompson--TAG)
