Consensus Mining Corrects Bitcoin Holdings Value to $20. 7M
(Neutral)(Neutral)Consensus Mining & Seigniorage (OTCQX:CMSG)corrected its June 30, 2026 bitcoin holdings value to$20. 7 million(from $17. 3 million previously reported) and reported unaudited 2Q2026. . .
(Neutral)(Neutral)Consensus Mining & Seigniorage (OTCQX:CMSG)corrected its June 30, 2026 bitcoin holdings value to$20. 7 million(from $17. 3 million previously reported) and reported unaudited 2Q2026 results. The company recorded anet loss of $2. 7 million, or-$1. 19 per share, versus net income of $6. 7 million, or $2. 99 per share, in 2Q2025. Digital asset mining revenue declined to$0. 5 millionfrom $1. 1 million, while cost of revenues fell to $0. 4 million from $0. 7 million and operating expenses to $0. 5 million from $0. 8 million. Non-operating items produced a$3. 1 million loss, compared with $8. 8 million income a year earlier, mainly from unrealized depreciation of digital assets. At quarter-end, CMSG held354 BTC and 13,724 LTCvalued at$21. 3 millionin total, and had book value per share of$37. 35. The company repurchased67,636 sharesfor $2. 1 million under a $5 million buyback, leaving $2. 9 million available. Loading. . . Loading translation. . . PositiveDigital asset holdings$21. 3 million at June 30, 2026, including 354 BTC and 13,724 LTCCost of revenuesreduced to $0. 4 million in 2Q2026 from $0. 7 million in 2Q2025Operating expensesdown to $0. 5 million in 2Q2026 from $0. 8 million year over yearShare repurchasesof 67,636 shares for $2. 1 million at $30. 69 average priceStrong equity basewith total stockholders’ equity of $81. 5 million versus total liabilities of $0. 7 millionInterest incomeof $0. 5 million in 2Q2026, contributing to non-operating resultsNegativeNet lossof $2. 7 million in 2Q2026 versus $6. 7 million net income in 2Q2025Digital asset mining revenuefell to $0. 5 million from $1. 1 million year over yearNon-operating swingto $3. 1 million loss from $8. 8 million income, driven by unrealized digital asset depreciationSix‑month net lossof $9. 3 million in 2026 versus $4. 0 million net income in 2025Book value per sharedeclined to $37. 35 at June 30, 2026 from $43. 59 a year earlierTotal assetsdecreased to $82. 2 million at June 30, 2026 from $96. 3 million at December 31, 2025AI-generated analysis. How Rhea-AI works. Not financial advice. See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google08/07/2026 - 11:35 AMThe purpose of this press release is to correct a typographical error in in the 7th paragraph indicating the value of our bitcoin holdings at June 30, 2026. The corrected value presented in the updated press release is $20. 7 million, instead of the previously reported $17. 3 million. The updated released reads as follows:NEW YORK CITY, NY /ACCESS Newswire/ August 7, 2026 /Financial Results Summary (unaudited)Consensus Mining & Seigniorage Corporation ("CMSG" or "the Company") (OTCQX:CMSG) announced a net loss for the quarter ended June 30, 2026 of $2. 7 million, or $1. 19 per share, as compared to net income of $6. 7 million, or $2. 99 per share, for the second quarter of 2025. As previously disclosed, on May 7, 2026, the Company's Board of Directors approved a share repurchase program (the "Program") pursuant to which the Company is authorized to repurchase up to $5 million of the Company's common stock. The Program authorizes the repurchase of common stock from time to time on the open market or in privately negotiated transactions, including under 10b5-1 plans. During the three months ended June 30, 2026, the Company repurchased an aggregate of 67,636 shares of common stock under the Program, at a weighted average price of $30. 69 per share, for total consideration of $2. 1 million. As of June 30, 2026, the Company had $2. 9 million of remaining capacity under the Program. Book value per share outstanding decreased to $37. 35 at June 30, 2026 as compared to $43. 59 at June 30, 2025. The Company generated $0. 5 million in digital asset mining revenue for the quarter as compared to $1. 1 million for the quarter ended June 30, 2025. The decrease was primarily due to the combined effect of less bitcoin mined in 2026 as compared to 2025 and at a lower average price. However, 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 also recently initiated operating Zcash mining equipment, but the impact was not significant to the second quarter. The Company has Bitcoin mining operations of 97 petahash and scrypt mining operations for Litecoin/Dogecoin of 4,872 gigahash as of June 30, 2026. During the second quarter of 2026, the Company mined 3. 2 Bitcoin (BTC) and 491 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 3. 7 Bitcoin. The Company's quarter-end cryptocurrency holdings were primarily 354 BTC and 13,724 LTC, which were valued at $20. 7 million and $0. 6 million, respectively. The value of all cryptocurrency holdings was $21. 3 million at June 30, 2026. The cost of revenue, a figure that largely consists of hosting costs, was $0. 4 million for the second 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 second quarter of 2026 compared to $0. 8 million for the second 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 second quarter of 2026, including changes in the fair value of our cryptocurrency holdings-coupled with interest income-was a loss of $3. 1 million, compared to income of $8. 8 million in the second quarter of 2025. The decrease was primarily a result of the unrealized loss from the reduction in the fair value of our cryptocurrency holdings. Upcoming Shareholder CallThe Company has also announced an upcoming shareholder call on August 10, 2026. Monday, August 10, 2026 4:15 pm ETOnline Webinar:REGISTER HEREPhone Access: +1 (562) 247-8422 Access Code: 539-203-208Only 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 enablesCMSGto 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 visitwww. consensusmining. com. Investor Relations Contact:IR@consensusmining. comConsensus Mining & Seigniorage CorporationBalance SheetsJune 30,December 31,20262025(unaudited)AssetsCurrent assetsCash and cash equivalents$58,525,603$60,533,066Investments, at fair value7,700-Federal tax receivable487,660344,777Prepaid expenses194,241198,441Other receivables172,95880,498Loans receivable - related party-370,130Total current assets59,388,16261,526,912Non-current assetsProperty and equipment, net1,514,8543,395,958Digital assets, net21,330,94631,332,392Total non-current assets22,845,80034,728,350Total Assets$82,233,962$96,255,262Liabilities and Stockholders' EquityCurrent liabilitiesAccrued taxes$57,061$18,577Accrued accounting fees84,86283,647Accrued hosting fees-9,809Other accrued expenses22,90543,803Total current liabilities164,828155,836Non-current liabilitiesDeferred tax liabilities, net564,8843,210,612Total Liabilities729,7123,366,448Commitments and contingencies (Note 4)Stockholders' EquityCommon stock ($0. 01 par value, 5,000,000 shares authorized;, 2,250,009 issued; 2,182,373 and 2,250,009 outstanding at June 30, 2026 and December 31, 2025, respectively)22,50022,500Additional paid-in capital86,286,81386,286,813Treasury stock, at cost, 67,636 and 0 shares at June 30, 2026 and December 31, 2025, respectively(2,075,757)-(Accumulated deficit) retained earnings(2,729,306)6,579,501Total Stockholders' Equity81,504,25092,888,814Total Liabilities and Stockholders' Equity$82,233,962$96,255,262Consensus Mining & Seigniorage CorporationStatements of OperationsThree Months Ended June 30,Six Months Ended June 30,2026202520262025(unaudited)Digital asset mining revenues$462,275$1,091,075$966,817$2,441,390Cost of revenues - hosting fees420,142692,417988,5341,362,963Operating expenses:Depreciation expense277,707567,354833,0811,169,996Losses on disposals, net24,16261,25660,090110,467Impairment of property & equipment--1,069,328-General and administrative expenses208,040179,695401,198306,642Total operating expenses509,909808,3052,363,6971,587,105Operating loss(467,776)(409,647)(2,385,414)(508,678)Non-operating income (expense):Net change in unrealized depreciation on digital assets(3,618,812)8,186,510(10,640,106)4,399,851Interest income503,319616,9481,013,5051,231,629Realized loss on sale of digital assets314(1,837)(1,104)(9,773)Unrealized (loss) on investments, net(3,357)-(3,863)-Total non-operating income(3,118,536)8,801,621(9,631,568)5,621,707Loss before income taxes(3,586,312)8,391,974(12,016,982)5,113,029(Benefit from) provision for income taxes(923,560)1,660,030(2,708,176)1,064,530Net income (loss)$(2,662,752)$6,731,944$(9,308,806)$4,048,499Basic and diluted net loss per share$(1. 19)$2. 99$(4. 15)$1. 80Weighted average shares (basic and diluted)2,239,0242,250,009$2,244,486$2,250,009About CMSGConsensus Mining & Seigniorage Corporation (OTCQX:CMSG) is a cryptocurrency mining company created with strategic partnerships in hosting, repair, and management. This enablesCMSGto 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 visitwww. consensusmining. com. Investor Relations Contact:IR@consensusmining. comSOURCE:Consensus Mining & Seigniorage CorporationView the originalpress releaseon ACCESS NewswireFAQWhat correction did Consensus Mining & Seigniorage (OTCQX:CMSG) make in its Q2 2026 results release?Consensus Mining & Seigniorage corrected its reported June 30, 2026 bitcoin holdings value to$20. 7 million, up from the previously stated $17. 3 million. According to Consensus Mining & Seigniorage, this adjustment affects the disclosed value of its 354 BTC but not operating metrics. How did digital asset mining revenue for CMSG change in Q2 2026 versus Q2 2025?Digital asset mining revenue declined to$462,275in Q2 2026 from$1,091,075in Q2 2025. According to Consensus Mining & Seigniorage, this was mainly due to lower bitcoin and scrypt mining volumes and lower average prices, particularly affecting Dogecoin-related results. What are Consensus Mining & Seigniorage’s bitcoin and crypto holdings as of June 30, 2026?As of June 30, 2026, CMSG held354 BTCvalued at$20. 7 millionand13,724 LTCvalued at $0. 6 million. According to Consensus Mining & Seigniorage, total cryptocurrency holdings were$21. 3 million, with most bitcoin and litecoin retained from mining operations.