The Fort Worth Press - Consensus Mining & Seigniorage Corporation Annual Report - December 31, 2025

NEW YORK, NY / ACCESS Newswire / February 11, 2026 / Consensus Mining & Seigniorage Corporation ("CMSG" or "the Company") announced net loss for the year ended December 31, 2025 of $1.1 million, or $0.51 per share, as compared to a net income of $13.0 million, or $5.79 per share, for 2024. The decline in the Company's net income was related to the decline in the fair value of Bitcoin during 2025, which occurred principally within the fourth quarter.

The Company also reported a net loss of $7.3 million, or $3.26 per share, for the three months ended December 31, 2025 as compared to net income of $8.1 million, or $3.61 per share, for the prior comparable period.

While book value per share decreased 1.2% from $41.79 to $41.28 during the year ended December 31, 2025, the Company has grown its aggregate Bitcoin by 8%. The Company's aggregate quarter-end cryptocurrency holdings were primarily 346 BTC and 12,730 LTC, which were valued at $30.2 million and $1.0 million respectively. The value of all cryptocurrency holdings was $31.3 million at December 31, 2025.

The Company generated $4.5 million of mining revenue for the 2025 annual period as compared to $5.5 million in 2024. The 18.5% revenue decline resulted in $2.2 million of Bitcoin mining revenue. The decline was the result of a 61% decrease in Bitcoin rewards, dropping from 57 to 22 for the annual period. The volume decline was partially offset by higher average prices throughout the year of approximately $102,000. The Bitcoin decline was also partially offset by 17% higher revenue from scrypt mining during 2025. The Company generated $2.3 million of scypt mining revenue during 2025 resulting from higher average Dogecoin prices during the year. The Company typically uses a portion of the Dogecoin mining rewards to acquire Bitcoin. During the 2025 annual period, the Company purchased 4.0 Bitcoin using these Dogecoin proceeds.

For the fourth quarter, the Company generated $0.9 million of mining revenue as compared to $1.6 million during the prior comparable quarter of 2024. The 43% revenue decline resulted in $452,000 of Bitcoin mining revenue. The decline was driven by a 50% decrease in Bitcoin rewards, dropping from 9.0 to 4.5 for the quarterly period. This volume decline was partially offset by higher average prices during the period of approximately $99,800. The Company experienced a similar 39% decline in revenue from scrypt mining during the fourth quarter, resulting from lower average Dogecoin prices during the fourth quarter.

The Company has continued to purchase scrypt mining equipment throughout 2025 adding $1.7 millon of mining equipment. As of December 31, 2025, CMSG owned and operated 830 miners for Bitcoin, and 555 miners for Litecoin and Dogecoin. The Company's Bitcoin hashrate was approximately 143 PetaHash (PH). The Company's Litecoin hashrate was approximately 6,890 GH.

The cost of revenue, a figure that largely consists of hosting costs, was $2.7 million for the year ended December 31, 2025, down 3.4% from the $2.8 million for the year ended December 31, 2024. During the fourth quarter of 2025, cost of revenues decreased to $649,000 from $681,000 in prior comparable quarter, a decrease of 4.6%.

Operating expenses-which include depreciation of mining equipment as well as general administrative expenses-declined 31% for the annual period and 40% for the fourth quarter. These declines were primarily due to lower depreciation expenses for certain equipment becoming fully depreciated or disposed of during earlier periods.

The Company reported an operating loss of $0.5 million for the fourth quarter of 2025, as compared to an operating loss of $0.4 million for the fourth quarter of 2024.

Non-operating income for the fourth quarter of 2025 includes changes in the fair value of our cryptocurrency holdings as well as interest income from our cash equivalents. Our interest income declined for the year from $3.0 million to $2.4 million. The changes in fair value of digital assets resulted in an unrealized loss of $2.5 million during the year ended December 31, 2025 as compared to unrealized gains of $15.5 million for the year ended December 31, 2024. The declines in fair value of our digital assets was most pronounced in the fourth quarter which included an unrealized loss of $9.4 million as compared to unrealized gains of $9.8 million in the fourth quarter of 2024.

Upcoming Shareholder Call

The Company has also announced an upcoming shareholder call on Tuesday, February 17, 2026.

Tuesday, February 17, 2026 4:15 pm ET

Online Webinar: REGISTER HERE

Phone Access: +1 (631) 992-3221 Access Code: 252-333-875

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

The accompanying notes are an integral part of these financial statements.

Consensus Mining & Seigniorage Corporation
Statements of Operations

The accompanying notes are an integral part of these financial statements.

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:

[email protected]

SOURCE: Consensus Mining & Seigniorage Corporation

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S.Palmer--TFWP