The club was founded in 1906 in the Timiskaming Professional Hockey League, an early professional ice hockey league. In 1909, the Cobalt Silver Kings won the O'Brien Cup as champions of the TPHL.
In 1909, the club became part of the new National Hockey Association (NHA), along with another TPHL team, the Haileybury Comets, the Federal League's Renfrew Creamery Kings and Les Canadiens and Wanderers of Montreal. The league was founded by Ambrose O'Brien to rival the Canadian Hockey Association (CHA), set up at the same time, and to provide a league for his Renfrew team to win the Stanley Cup. The CHA dissolved and two of its teams the Senators of Ottawa, and the Shamrocks of Montreal joined the NHA.
After the initial season, the club returned to play in the TPHL and its NHA franchise was taken over by the Quebec Bulldogs (formerly of the CHA).