Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) Announces 2Q2025 Financial Results and Upcoming Shareholder Call
Rhea-AI Summary
Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) reported strong Q2 2025 financial results, with net income of $6.7 million ($2.99 per share), compared to a net loss of $1.7 million in Q2 2024. The company's book value increased to $43.59 per share from $41.79 at end-2024.
Mining operations generated $1.1 million in revenue, mining 5.8 Bitcoin and 665 Litecoin (retained) plus 2.5 million Dogecoin (sold for $0.5M). Period-end cryptocurrency holdings included 334 BTC and 11,474 LTC, valued at $36.9 million. The company expanded its mining capacity with 46 Antminer L9 machines in Q2, improving cost efficiency from $0.70 to $0.58 per megahash.
CMSG maintains strong liquidity with $60.8 million in cash and operates with minimal overhead. The company will host a shareholder call on August 14, 2025, following its successful OTCQX listing.
Positive
- Net income improved significantly to $6.7 million in Q2 2025 from a loss of $1.7 million in Q2 2024
- Book value per share increased to $43.59 from $41.79 at end-2024
- Strong liquidity position with $60.8 million in cash
- Improved mining efficiency with cost per megahash dropping from $0.70 to $0.58
- Substantial crypto holdings valued at $36.9 million
- Operating expenses declined from $0.9M to $0.8M year-over-year
Negative
- Mining revenue decreased to $1.1M from $1.4M in Q2 2024 due to Bitcoin halving
- Operating loss increased to $0.4M from $0.2M year-over-year
- Six-month net income declined to $4.0M from $5.4M in the prior year period
News Market Reaction
On the day this news was published, CMSG declined 7.41%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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
The Company also reported net income of
Book value per share increased to
The Company generated
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
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
The Company's quarter-end cryptocurrency holdings were primarily 334 BTC and 11,474 LTC, which were valued at
The cost of revenue, a figure that largely consists of hosting costs, was
Operating expenses-which include depreciation of mining equipment as well as general administrative expenses-declined from
For the Period, the Company reported an operating loss of
Non-operating income for the Period, including changes in the fair value of our cryptocurrency holdings-coupled with interest income-was income of
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 ( | 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 www.consensusmining.com.
Investor Relations Contact:
IR@consensusmining.com
SOURCE: Consensus Mining & Seigniorage Corporation
View the original press release on ACCESS Newswire
FAQ
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