CMSG Reports $7.2 Million Net Income for Third Quarter of 2026
Consensus Mining & Seigniorage Corporation reported third-quarter 2026 net income of $7.2 million, while digital asset mining revenue declined from the same period in 2025.
Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) reported unaudited net income of $7.2 million, or $3.31 per share, for the quarter ended September 30, 2026. The company recorded net income of $2.1 million, or $0.95 per share, in the third quarter of 2025.
Digital asset mining revenue was $485,016 for the three months ended September 30, 2026, compared with $1,167,808 for the same period in 2025. CMSG said the decline reflected lower Bitcoin production, at 2.45 compared with 5.0, together with lower average Bitcoin prices.
Revenue from scrypt mining decreased 73% in the third quarter, mainly because the average value of Dogecoin rewards declined. CMSG also reported $135,000 of revenue from Zcash mining equipment, which it began operating during the second quarter of 2026.
At September 30, 2026, the company had Bitcoin mining operations of 97 petahash and scrypt mining operations for Litecoin and Dogecoin of 4,872 gigahash.
During the quarter, CMSG mined 2.45 bitcoin and 465 litecoin, all of which were retained. Its scrypt operations also produced approximately 1.7 million dogecoin. Those Dogecoin rewards were sold for approximately $0.1 million, while a portion was used to acquire 0.38 bitcoin. The company said the total amount added during the quarter was 2.8 bitcoin.
Quarter-end holdings were primarily 356.4 bitcoin and 14,189 litecoin, 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.
Cost of revenues, which largely consists of hosting fees, was $370,926 in the third quarter of 2026, compared with $688,442 in the prior-year quarter. CMSG attributed the reduction to a lower volume of equipment being operated during 2026.
Total operating expenses were $483,474, down from $820,320. The company said the decrease was primarily related to lower depreciation expense after equipment had been removed or impaired in earlier periods. The quarter still produced an operating loss of $369,384.
Non-operating income was $9,954,780, compared with $3,172,102 in the third quarter of 2025. The increase was primarily associated with unrealized gains from changes in the fair value of the company’s digital asset holdings. The quarter included a net change in unrealized appreciation on digital assets of $9,418,516.
For the nine months ended September 30, 2026, digital asset mining revenue was $1,451,833, compared with $3,609,198 in the same period of 2025. CMSG reported a net loss of $2,117,605, or $0.95 per share, compared with net income of $6,188,478, or $2.75 per share, for the first nine months of 2025.
The nine-month results included an operating loss of $2,754,798 and total operating expenses of $2,847,171. The company also reported a net change in unrealized appreciation or depreciation on digital assets of $(1,221,590) for the period.
Under a share repurchase programme approved in May 2026, CMSG repurchased 117,161 common shares at a weighted average price of $30.80 per share, for total consideration of $3.6 million.
As of September 30, 2026, $1.4 million of capacity remained under the programme, and the company had 2,132,848 shares outstanding. Book value per share was $40.87 at September 30, 2026, compared with $37.35 at June 30, 2026.
Consensus Mining & Seigniorage Corporation describes itself as a digital asset mining company with strategic partnerships in hosting, repair and management. The company says these arrangements support operations with minimal overhead and a conservative capital structure that allows for flexible and patient capital allocation.
Consensus Mining & Seigniorage Corporation announced net income of $7.2 million, or $3.31 per share, for the quarter ended September 30, 2026. This compared with net income of $2.1 million, or $0.95 per share, for the third quarter of 2025.
Consensus Mining & Seigniorage Corporation announced the results on October 29, 2026. The results cover the quarter ended September 30, 2026, with comparative figures for the third quarter and nine months ended September 30, 2025.
Consensus Mining & Seigniorage Corporation reported digital asset mining revenues of $485,016 for the three months ended September 30, 2026, compared with $1,167,808 for the same period in 2025. The company also reported digital asset mining revenues of $1,451,833 for the nine months ended September 30, 2026, compared with $3,609,198 in 2025.
Consensus Mining & Seigniorage Corporation said the decrease was due to less bitcoin mined in 2026, at 2.45 bitcoin compared with 5.0 in 2025, and lower average Bitcoin prices. Revenue associated with scrypt mining also decreased 73% in the third quarter, primarily because of a decrease in the average value of the Dogecoin rewards received.
Consensus Mining & Seigniorage Corporation mined 2.45 bitcoin and 465 litecoin during the third quarter of 2026, all of which were retained. It also mined approximately 1.7 million dogecoin, which were sold for approximately $0.1 million, while a portion of the Dogecoin rewards was used to acquire 0.38 bitcoin, bringing the total amount added for the quarter to 2.8 bitcoin.
At September 30, 2026, Consensus Mining & Seigniorage Corporation had Bitcoin mining operations of 97 petahash and scrypt mining operations for Litecoin/Dogecoin of 4,872 gigahash. The company also began operating Zcash mining equipment during the second quarter of 2026, generating revenue of $135,000 in the third quarter.
Consensus Mining & Seigniorage Corporation's quarter-end digital asset holdings were primarily 356.4 bitcoin and 14,189 litecoin. These were valued at $29.8 million and $1.0 million, respectively, while the value of all digital asset holdings was $31.0 million at September 30, 2026.
Consensus Mining & Seigniorage Corporation reported cost of revenues, which largely consists of hosting costs, of $0.4 million for the third quarter of 2026, compared with $0.7 million for the comparable quarter in 2025. Operating expenses decreased to $0.5 million from $0.8 million, primarily because of lower depreciation expense for equipment removed or impaired in prior periods.
Consensus Mining & Seigniorage Corporation reported non-operating income of $10.0 million for the third quarter of 2026, compared with $3.2 million in the third quarter of 2025. The company said the increase was primarily the result of unrealised gains from appreciation in the fair value of its digital asset holdings; the table reports net change in unrealised appreciation on digital assets of $9,418,516 for the quarter.
Under its share repurchase programme approved in May 2026, Consensus Mining & Seigniorage Corporation repurchased an aggregate of 117,161 common shares at a weighted average price of $30.80 per share, for total consideration of $3.6 million. As of September 30, 2026, the programme had $1.4 million of remaining capacity and the company had 2,132,848 shares outstanding; book value per share increased to $40.87 from $37.35 at June 30, 2026.
Consensus Mining & Seigniorage Corporation is a digital asset mining company created with strategic partnerships in hosting, repair and management. The company says this enables it to operate with minimal overhead and with a conservative capital structure that allows for flexible and patient capital allocation.
Consensus Mining & Seigniorage Corporation shares trade on the OTCQX under the ticker symbol CMSG.