Graystone Company Announces Acquisition of 1,000 Terahash (TH/s) for its Bitcoin Mining Operation

Rhea-AI Summary

Graystone Company, Inc. (OTC: GYST) has begun acquiring Bitcoin mining capacity, starting with 1,000 Terrahash (TH/s) aimed at a larger goal of 50,000 TH/s in 2021 and 100,000 TH/s in 2022. This initial acquisition is expected to generate approximately 0.005 BTC ($221.23) daily. The acquisition cost was $49,445, paid by the CEO. The mining operations will have maintenance and power costs of $1.69 per TH/s monthly, equating to $1,690 per month. The breakeven price for Bitcoin is projected at $23,640 over 36 months of equipment use.

Positive

• Acquisition of 1,000 TH/s as a strategic step towards reaching 50,000 TH/s by year-end.
• Potential daily revenue generation of $221.23 from Bitcoin mining.

Negative

• High breakeven price of $23,640 could pose a significant risk if Bitcoin prices fall.
• Ongoing maintenance and power costs could strain financial resources.

FORT LAUDERDALE, Fla., May 18, 2021 /PRNewswire/ - Graystone Company, Inc. (OTC: GYST) announced today that is has begun acquiring Bitcoin mining capacity for its Bitcoin Mining Operations. The Company acquired 1,000 Terrahash (TH/s). This is the initial acquisition towards the company's goal of acquiring 50,000 TH/s in 2021 and 100,000 TH/s in 2022. 

The 1,000 TH/s is expected to generate 0.00501981 BTC (or $221.23) per day.* The acquisition cost was $49,445 and was paid by our CEO. The equipment will be hosted in the United States and is expected to be delivered and set-up by September 15, 2021. The cost of maintenance and power for the company's mining operations will be at a rate of $1.69 per TH/s per month ($1,690 per month for the 1,000 TH/s). Our breakeven point is a Bitcoin price of approximately $23,640*, which includes the power, maintenance and acquisition cost of the TH/s over 36 months (which is the expected useful life of mining equipment).   

The company has set up a corporate Bitcoin wallet address. The wallet can be viewed by shareholders at the following link and will allow shareholders to see the transactions from the Company's mining operations and the balance in the wallet:
https://www.blockchain.com/btc/address/32nWKSce24EPUGXnkfqVdvUyWbrVUmwpAr

Additionally, the Company will provide a livestream of the mining dashboard so shareholders will be able to view real time mining data. The company has provided a video (for representative purposes only) of a mining dashboard that will be similar to what will be live streamed. This video is viewable on the company Twitter page at: https://twitter.com/TheGraystoneco. The video will serve as a good representation of how mining fluctuates throughout the day.   

By providing real time data via the wallet address and live streaming the mining dashboard, the company endeavors to provide as much transparency as possible to its shareholders as it relates to the Bitcoin Mining division. Further details forthcoming. 

*Calculated using: https://novablock.com/calculator. These calculations are subject to change based on increases in price for equipment, costs for power, changes in mining difficulty, and/or fluctuation in price per BTC. 

About The Graystone Company, Inc.
Graystone Company operates two divisions: A Bitcoin BTC mining operation and a Wellness, Longevity and Anti-Aging product line. The Graystone Company, Inc. (OTC PINK:GYST) is headquartered in Fort Lauderdale, FL., and can be contacted at www.thegraystonecompany.com or by phone @ (954) 271-2704.

Corporate Website: www.thegraystonecompany.com
Twitter: https://twitter.com/TheGraystoneco  

Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.

For more information:
Graystone Company
Email: info@thegraystonecompany.com
Phone: (954) 271-2704

View original content:http://www.prnewswire.com/news-releases/graystone-company-announces-acquisition-of-1-000-terahash-ths-for-its-bitcoin-mining-operation-301292815.html

SOURCE Graystone Company, Inc.

FAQ

What is Graystone Company's Bitcoin mining capacity acquisition plan for 2021?

Graystone Company plans to acquire 50,000 TH/s in total Bitcoin mining capacity by the end of 2021.

How much Bitcoin can 1,000 TH/s generate for GYST?

1,000 TH/s is expected to generate approximately 0.005 BTC per day, equating to about $221.23.

What are the costs associated with GYST's Bitcoin mining operations?

Graystone's Bitcoin mining operations will incur monthly costs of $1.69 per TH/s, totaling $1,690 for the initial 1,000 TH/s.

What is the breakeven price for Graystone's Bitcoin mining investment?

The breakeven price for Bitcoin is estimated at $23,640 over 36 months.

When is the delivery and setup date for GYST's new mining equipment?

The equipment is expected to be delivered and set up by September 15, 2021.