Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) Announces 3Q2025 Financial Results and Upcoming Shareholder Call

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Audio By Carbonatix

3:15 PM on Friday, October 24

The Associated Press

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: IR@consensusmining.com

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