Coinsilium Group Limited: UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2025
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Coinsilium Group Limited (COIN)
COINSILIUM GROUP LIMITED
UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2025
UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2025 Coinsilium Group Limited (“Coinsilium” or the “Company”), the Web3 investor, advisor, and venture builder, is pleased to announce its unaudited consolidated interim financial statements for the six months ended 30 June 2025. The Directors of Coinsilium Group Limited take responsibility for this announcement. For further information, please contact:
Chairman and CEO Statement
It is with pleasure that we present shareholders the Group’s interim financial report to 30 June 2025 and business updates.
Having successfully overcome and adapted through 3 bear markets in the crypto space since our launch as a public company in 2015, it is with great pleasure that we note that our resilience and perseverance through these difficult times has paid off as the industry now shows signs of becoming substantially more normalised, with significant asset valuation increases over the last year and a broad based expansion in market adoption of the digital asset class. Whilst there will remain periods of volatility in the future, the longer term trend remains supportive of the digital assets market in general, as indicated by the growing adoption of crypto friendly regulation by authorities across the world, enabling the expansion of investors capacity to participate in this asset class.
The Group has seen an unprecedented level of activity over the last 6 months following the launch of our Bitcoin treasury project Forza! in March 2025. The implementation of this strategy, at a time of increasing global market awareness and normalisation of crypto assets, and Bitcoin in particular, has facilitated us raising approx. £17m before costs over the summer in support of this treasury function, which at the time of writing holds approx. 182 BTC. This phenomenal market reception has secured the foreseeable funding needs for the Group’s primary operations whilst also allowing us to add substantial amounts of Bitcoin to our balance sheet in support of future non-dilutive value growth in this asset, which we continue to believe is the ultimate long term trend, notwithstanding the likelihood of future volatility as bitcoin continues to normalise and take its place as a global reserve asset and long term store of value.
As regards the investment side of the business, we believe the broad-based normalisation of the industry creates superior market conditions for our various investments to develop their projects and generate the potential value we have seen in their prospects.
Our investment in the Yellow Network presents the nearest term source of potential value accretion following some exciting developments on this project. The project recently completed a Regulation D compliant token sale on the Republic platform, raising over US$1m from accredited US investors in what was an oversubscribed funding round highlighting the level of market demand and interest in promising projects. Yellow expects to launch its $YELLOW token soon, currently expected in 4Q25 and anticipates these being listed on tier-one digital asset exchanges. The launch of the tokens will result in our initial US$200k SAFT (Simple Agreement for Future Tokens) investment yielding $YELLOW tokens to the Group over an orderly market preserving vesting schedule, the total number of which accruing to us over this timeframe we expect to be able to confirm at the point of the token launch.
Following the token launch, the public market traded valuation of these tokens will allow us to reclassify our investment from a SAFT held at cost (approx. £150k) into a token investment which we can “mark to market” under the IFRS Fair Value approach to tradable assets. This in turn presents us with a potentially strong catalyst for future value growth within our investment portfolio of potentially strategic significance, which we will be monitoring closely over the coming months.
We remain in close contact with Yellow Network as with all our other portfolio investments and look forward to providing more updates on developments across these ventures as they continue to develop towards potentially value-accretive milestones. Notably, we are also encouraged by the progress being made at both Greengage and Otomato and we are hopeful that we will be in a position to update the market on developments in the coming period.
During the 6 months to June 2025, being the period covered by this financial report, the Group operated to a loss of approx. £590k (30 June 24: profit of £30k), largely made up of £510k of admin costs (30 June 24: £490k) and foreign exchange losses. Comparison of the bottom line between the two reporting periods is made more complex by the substantial gains on our “pre-Forza!” crypto reserves having been captured last year, alongside investment fair value increases in the same period.
What tells a clearer story of the developments in the business during the period is the movement in Bitcoin holdings from £507k at 30 June 2024 to £5.8m as at the reporting date of 30 June 2025, alongside cash of £3.5m at the same date, compared with £430k at 30 June 2024 and £290k at 31 December 2024. As at the reporting date, Coinsilium held approximately 74 Bitcoin, valued at £5.8m. Furthermore, as disclosed under “Post Balance Sheet Events”, following the end of the reporting period the Company successfully raised a further £8.3m before costs. This enabled the purchase of an additional 108 Bitcoin, bringing our current total treasury position to approximately 182 Bitcoin. Based on values at the time of writing, this equates to a holding valued at around £15m.
This reserve asset position places us on a stronger footing than ever before, securing the future of the business, providing us with substantial digital asset growth exposure and consequent options to pursue the growth of our business activities in a non-dilutive manner. The recent emergence of so-called Bitcoin treasury companies has generated renewed investor interest in Bitcoin as a treasury asset. However, it is also important to differentiate Coinsilium’s positioning in this space. Coinsilium is not simply a pure-play Bitcoin treasury vehicle. Rather, we are a long-established, industry-native participant in the digital asset space, operating with deep sectoral knowledge, a diverse portfolio of early-stage investments, complimented by a strategic and significant Bitcoin treasury subsidiary in Forza!. While the accumulation and stewardship of Bitcoin is a core pillar of our strategy, it is complemented by our broader investment activities across the digital asset landscape. Unlike other companies whose value proposition is solely tied to Bitcoin price exposure, Coinsilium has the potential — subject to vesting schedules, commercial considerations, and regulatory compliance — to realise value from its equity and token investments, when and where appropriate. This may provide us with opportunities to direct proceeds into further Bitcoin accumulation in a manner that is potentially non-dilutive to shareholders. We are also extremely mindful of the current volatility in our share price and the limitations of the narrow valuation metrics often used to assess companies in this sector. We would therefore encourage investors to look beyond headline comparisons and to consider the unique structure and strengths of the Coinsilium model. Our ability to generate long-term value is underpinned not just by Bitcoin exposure, but also by our participation across the broader digital asset economy, our early-stage investment footprint, and the optionality built into our strategic positioning. From mid-May to early August, the Company was highly active in fundraising and deploying capital into Bitcoin, taking Forza’s treasury from a standing start to 182 Bitcoin in a rapid timeframe. Since then, activity has been governed by prevailing market conditions, and this should not be misinterpreted as a pause in strategy. Rather, our approach remains governed by discipline and by the parameters set out in our published Bitcoin Treasury Policy, which provides a clear framework for when and how treasury activities are undertaken. All of our Bitcoin acquisitions to date have been 100% aligned with these principles and carried out on a basis we believe to be value-accretive to shareholders. Looking ahead, our ambition to grow our Bitcoin treasury remains undiminished. Market conditions and valuation considerations will always influence the pace of accumulation, but our philosophy is clear: we did not come this far, just to come this far. The Directors remain committed to building on the strong foundations already established, and when conditions are more conducive, we will be positioned to act decisively, whether through further fundraising in a disciplined, shareholder-protective manner or through the potential to realise value from our broader investment portfolio. In summary, our financial and asset position has never been stronger, the broader environment for digital assets — and the ecosystems in which our investee projects operate — has never been more supportive, and it is with renewed confidence and focus that we look forward to updating shareholders on further developments in the months ahead.
We would like to take this opportunity to thank our shareholders for their continued support, which is especially valued during these more volatile and challenging times. Please be assured that we are working diligently to navigate current market conditions, and we believe that Coinsilium is well positioned to deliver long-term value to our shareholders through our differentiated strategy and a responsible approach to growth.
1. Basis of Preparation Coinsilium Group Limited (“the Group” or “the Company”) is a limited liability company domiciled in the British Virgin Islands, operationally based in Gibraltar and is quoted on the Aquis Growth Market.
The principal business of the Company and its subsidiaries (together the “Group”) is investing in and accelerating blockchain technology companies, together with a venture builder and token sale strategic adviser that finances innovative blockchain companies, with the intent of supporting the further development and commercialisation of these technologies. The Group also provides advisory and promotional services to technology startups and companies looking to issue tokens via Token Generation Events such as Initial Coin Offerings.
The consolidated interim financial statements have been prepared in accordance with the requirements of the Aquis Growth Market listing rules for Companies and should be read in conjunction with the annual financial statements for the year ended 31 December 2024, which have been prepared in accordance with International Financial Reporting Standards (IFRS) and IFRS Interpretations Committee (IFRS IC) interpretations as adopted by the European Union. As permitted, the consolidated interim financial statements have not been prepared in accordance with International Accounting Standard 34 ‘Interim Financial Reporting’.
2. Financial Information The consolidated interim financial statements do not constitute statutory accounts. They have been prepared on a going concern basis in accordance with the requirements of the Aquis Growth Market listing rules for Companies and the recognition and measurement criteria of IFRS. Except as described below, the accounting policies applied in preparing the interim consolidated financial statements are consistent with those that have been adopted in the Group’s 2024 audited financial statements. Statutory financial statements for the year ended 31 December 2024 were approved by the Board of Directors on 26 June 2025. The report of the auditors on those financial statements was unqualified.
Going concern
The Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. For this reason, the Directors continue to adopt the going concern basis in preparing the Financial Statements.
Risks and uncertainties
The key risks that could affect the Group’s short- and medium-term performance, and the factors that mitigate those risks have not substantially changed from those set out in the Group’s 2024 Annual Report and Financial Statements, a copy of which is available on the Company’s website: www.coinsilium.com. The Group’s key financial risks are liquidity, equity securities price risk and foreign exchange movements.
Accounting policies
The preparation of consolidated interim financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the end of the reporting period. Significant items subject to such estimates are set out in note 4 of the Group’s 2024 Annual Report and Financial Statements. The nature and amounts of such estimates have not changed significantly during the interim period. The consolidated interim financial statements have been prepared on the historical cost basis, except for the measurement to fair value of certain financial instruments.
Changes in accounting policies and disclosures
There are no new and amended IFRS standards that are effective for the first time for the financial year commencing 1 January 2025 that would be expected to have a material impact on the Group.
The consolidated interim financial statements for the 6 months ended 30 June 2025 and for the 6 months period ended 30 June 2024 have not been reviewed or audited.
3. Directors Remuneration Directors of the Company received total remuneration of £202,395 for the 6 months ended 30 June 2025 (30 June 2024: £203,169).
4. Earnings Per Share Basic earnings per share is calculated by dividing the total comprehensive income attributable to equity shareholders by the weighted average number of ordinary shares outstanding during the period.
In the period, the Group operated to a loss such that the effects of the exercise of any dilutive instruments would be anti-dilutive. Consequently, no fully diluted earnings per share has been presented in these interim financial statements.
5. Financial Assets at fair value through profit and loss At 30 June 2025, the Company owns unlisted shares in:
The below table provides a reconciliation of movements in FVTPL investments held in the period:
During the second half of the prior year, the equity investment in Elevate was reclassified as Right to Receive Future Tokens following commercial discussions with the investee. Consequently this instrument was not held as a FVTPL investment at the start of the current period.
6. Other Current Assets Other Current Assets at the reporting date are made up of the following:
Movements in Digital Asset Tokens in the period were as follows:
7. Dividends The Directors do not recommend the payment of a dividend.
8. Post Balance Sheet Events In the period following the reporting date to release of these financial statements, the Group raised a further £8.3m in gross equity funding, facilitating the purchase of a further 108.2 BTC for the Group’s Forza! BTC Treasury reserves at a total cost of £5.6m.
9. Approval of Interim Financial Statements The interim financial statements were approved by the Board of Directors on 23 September 2025.
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | VGG225641015 |
| Category Code: | MSCM |
| TIDM: | COIN |
| Sequence No.: | 403005 |
| EQS News ID: | 2202762 |
| End of Announcement | EQS News Service |
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