Graystone Company Announces Goal of 1,000,000 Th/s in Bitcoin Mining Capacity

Rhea-AI Summary

Graystone Company, Inc. (OTC: GYST) announced a goal to achieve 1,000,000 Terahash (TH/s) in Bitcoin mining capacity by 2024. The company has already secured 1,000 TH/s and updated its annual targets to 50,000 TH/s in 2021 and 150,000 TH/s in 2022. The operational expense for mining ranges from $1.70 to $1.80 per TH/s per month, setting a breakeven Bitcoin price between $9,000 and $10,000.

The Bitcoin mining operation commenced in May 2021, with initial equipment expected by September 2021.

Positive

• Set a clear goal of achieving 1,000,000 TH/s in Bitcoin mining capacity by 2024.
• Already secured 1,000 TH/s, showing commitment to expansion.
• Ambitious growth targets of 50,000 TH/s for 2021 and 150,000 TH/s for 2022.

Negative

• Operational costs are high, ranging from $1.70 to $1.80 per TH/s per month, posing a risk if Bitcoin prices fall.
• Breakeven Bitcoin price set at $9,000 to $10,000, which may be challenging given current market volatility.

FORT LAUDERDALE, Fla., June 15, 2021 /PRNewswire/ -- Graystone Company, Inc. (OTC: GYST) announced today an objective of 1,000,000 Terahash (TH/s) in Bitcoin Mining capacity by 2024. The company has already acquired 1,000 TH/s and has updated its year over year goals to 50,000 TH/s in 2021 and 150,000 TH/s in 2022. 

The Company's direct operational expense of its Bitcoin Mining operation is $1.70 - $1.80 per Terahash per month (or $0.057 - $0.06 per day). This equates to a Bitcoin price of $9,000 to $10,000 as the operating breakeven point for the Bitcoin mining operation. This is based on the current daily reward of 0.00630762 Bitcoin (or $ 255.30 per day) per 1,000 TH/s.* For 50,000 TH/s, this would equate to 0.31538119 Bitcoin (or $12,765.05**) per day with a daily expected cost of $2,850 -$3,000.

The Bitcoin Mining Operation launched in May 2021 with the bulk of the initial mining equipment expected to arrive in September 2021. 

* See NovaBlock for additional information on current and updated reward payouts. https://novablock.com/calculator

**Based on Bitcoin price of $40,475.00 and a difficulty setting of 19932791027262.74

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: GYST) is headquartered in Fort Lauderdale, Florida, and can be contacted at www.thegraystonecompany.com or by phone at (954) 271-2704.

Corporate Website: www.thegraystonecompany.com
Twitter (Corporate): https://twitter.com/TheGraystoneco 
Twitter (Mining): https://twitter.com/Graystonemining 
YouTube: https://www.youtube.com/channel/UCx1DkmPk_g0OImUmsXxVnvw
Facebook: https://www.facebook.com/thegraystonecompany 
Bitcoin Wallet Address: https://www.blockchain.com/btc/address/32nWKSce24EPUGXnkfqVdvUyWbrVUmwpAr

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-goal-of-1-000-000-ths-in-bitcoin-mining-capacity-301312230.html

SOURCE Graystone Company, Inc.

FAQ

What is Graystone Company's Bitcoin mining capacity goal for 2024?

Graystone Company aims to achieve 1,000,000 Terahash (TH/s) in Bitcoin mining capacity by 2024.

How much Bitcoin does Graystone Company currently mine?

Graystone has currently secured 1,000 TH/s in Bitcoin mining capacity.

What are the operational costs for Graystone's Bitcoin mining?

The operational expenses are between $1.70 and $1.80 per Terahash per month.

When did Graystone Company launch its Bitcoin mining operation?

The Bitcoin mining operation launched in May 2021.

What are the expected annual mining targets for Graystone in 2021 and 2022?

Graystone targets to reach 50,000 TH/s in 2021 and 150,000 TH/s in 2022.