Consensus Mining & Seigniorage Corporation

Greetings and good afternoon, everybody. Today is May 7, 2026, and we thank you for joining the first quarter 2026 shareholder call for CMSG, the Consensus Mining and Seniors Corporation, which is quoted on the OTCQX Premier Marketplace under the ticker CMSG. Our first quarter financial results are posted on both the OTC markets and the ConsensusMining.com websites. With us today, we have Alan Williams, Mark Herndon, Kevin McRae, Peter Doyle, and Steven Bregman. Before I turn it over to our speakers today, we remind you that the following discussion, including responses to your questions, apply only as of today. The information on this call should not be construed to be a recommendation to purchase or sell any particular security or investment fund. The opinions referenced on this call today are not intended to be a forecast of future events or a guarantee of future results. It should not be assumed that any of the transactions referenced today have been or will prove to be profitable or that future investment decisions will be profitable or will equal or exceed the past performance of this investment. This call is recorded today and a replay will be available. To request a replay, please email ir at consensusmining.com. Alan, I will pass on the mic over to you.

Thank you very much, Agustin, and thank you, everyone, for joining us at the first quarter 2026 Consensus Mining and Senior Corporation Investor Update. During this call, first, I'm going to share some initial comments. following which I will hand it over to Mark Herndon, our CFO, who will start a review of the 2026 first quarter annual financial results. I will then provide some context around what's going on in the market, and following that, Kevin McRae, our Chief Technology Officer, will provide an operations update. And then we will finish by responding to some questions. So let me start by saying, you know, by now many of you would have heard the sad news that Murray Stahl, Consensus Mining's Chief Strategy Officer and CEO of Horizon Kinetics, passed away suddenly a few weeks ago. Murray and his co-founders created Horizon Kinetics over 30 years ago, and Murray was the visionary behind Consensus Mining. Initially starting with two private cryptocurrency mining partnerships in 2017 and 2018, Those partnerships merged together in 2021 in conjunction with a capital raise, creating Consensus Mining and Senior Corporation. Murray's strategy of a commitment to a slow and deliberate deployment of capital allowed the mining business to successfully navigate periods of uncertainty and to continue as a company with a strong balance sheet prepared for what the future holds. Indeed, today Consensus sits with approximately $30 million worth of cryptocurrency and $60 million worth of cash. We will all miss Murray, who was incredibly generous with both of his time and his intellect. With his passing, ConsenSys is forming a strategy committee to replace the role of chief strategy officer. That committee will be comprised of myself and Kevin McRae, who you all know, along with two founding partners of Horizon Kinetics, Peter Doyle and Stephen Bregman, who both began their careers with Mary at Bankers Trust and, as I said, co-founded Horizon Kinetics. Peter and Steve are with us here today on the call. I'll hand them over just to say a few words of introduction to those of you who maybe have not yet had the pleasure of meeting them. Peter and Steve.

Good afternoon, everyone. Thank you, Alan. And as Alan pointed out, A bit of a difficult time for us here at Horizon Kinetics, losing Murray. Steven and I have known Murray for 40 plus years. He was a friend, a mentor, just a great person, and a big loss for us and for a lot of other people as well. So, you know, we've been looking at this company now for about a month. We've had four fairly lengthy meetings with it. We've met twice with the board of directors. It was Murray's brainchild. And I think one of the things that he did incredibly well on a relative basis was he deployed the assets very slowly over time and compared to some of the other miners that are out there, bigger ones that basically crashed because they went out and aggressively purchased machines that ultimately became very unprofitable. But in addition to that, What I think we really, what he's done is he's kept people in the game. So initially, I think money was raised for these funds and it was supposed to be fairly modest. And he's been building up the balance of cryptocurrencies over time on behalf of the individual investors. And I think that strategy still has a role for people. And Steve and I will do our best to maintain that. Yeah.