Graystone Company Announces Mining Performance Through December 31, 2021

Rhea-AI Summary

Graystone Company (OTC: GYST) reported preliminary unaudited results for its mining operations through December 31, 2021. From September 15, 2021, to December 31, 2021, the company generated $187,085.17 in revenue, with a cost of goods sold of $124,423.64, resulting in a profit of $62,661.53. The mining operation produced 0.8859 Bitcoin, yielding $48,285.17 in revenue, while expenses totaled $9,973.64. Additionally, GYST sold nine S19j Pro mining units for $138,800, achieving a profit of $24,350.

Positive

• Generated $187,085.17 in total revenue.
• Achieved a profit of $62,661.53 from mining operations.
• Produced 0.8859 Bitcoin with $48,285.17 in revenue.
• Sold S19j Pro mining units, generating $138,800 in revenue with a profit of $24,350.

Negative

• Costs of goods sold totaled $124,423.64, which could limit profitability.
• Expenses of $9,973.64 associated with Bitcoin mining operations.

FORT LAUDERDALE, FL, Jan. 11, 2022 /PRNewswire/ -- Graystone Company, Inc. (OTC: GYST), is pleased to provide preliminary unaudited results for its mining operations through December 31, 2021.  The Company began mining September 15, 2021. Between September 15, 2021 and December 31, 2021, the Company generated $187,085.17 in revenue with a cost of goods sold of $124,423.64 for a profit of $62,661.53. 

We began with average of 1,100 terrahash (Th/s) for the months of September and October.  Then we added 1,000 TH/s on November 1, 2021 for a total of 2,100 TH/s.  Subsequently, 4,100 TH/s were added by acquiring 41 S19j Pro (100TH) machines, their installation at the hosting facility is expected to begin the end of January 2022. Since our launch on September 15, 2021, we have generated 0.88595251 Bitcoin with revenue of $48,285.17, which is broken out per month below.  Our costs related to the mining operation during this time frame was $9,973.64 for a profit of $38,311.53. Additionally, in October 2021, we began reselling mining equipment.  Since then, we have sold 9 of the S19j Pros and generated revenue of $138,800 at a cost of $114,450 for a profit of $24,350. 

 Bitcoin Mining Monthly Breakdown
 

Month	Terrahash	Bitcoin Mined	Revenue	Mining Expenses
September 2021	1,100	0.09937408	$  3,698.41	$   929.50
October 2021	1,100	0.19254803	$12,366.06	$1,915.33
November 2021	2,100	0.30103452	$18,166.39	$3,545.00
December 2021	2,100	0.29299558	$14,054.31	$3,545.00

We have accomplished a lot since September 15, 2021, and are excited about the continued growth planned for 2022 and beyond. 

The Company's Bitcoin wallet address can be found on our website at https://www.thegraystonecompany.com/blockchain. We endeavor to provide as much transparency as possible to our shareholders by providing our wallet address that shows the real time data that directly relates to our Bitcoin Mining activity, transactions and our BTC balance.

About The Graystone Company, Inc.
The Graystone Company has two distinct lines of business: (1) Bitcoin Mining; and (2) sale and hosting of Bitcoin mining equipment. The Company launched its Bitcoin Mining operation in May 2021 and began selling mining equipment in October 2021. The Company's Bitcoin mining wallet address can be viewed at anytime using this link: https://www.blockchain.com/btc/address/32nWKSce24EPUGXnkfqVdvUyWbrVUmwpAr  The Graystone Company, Inc. (OTC PINK:GYST) is headquartered in Fort Lauderdale, FL., and can be contacted at www.thegraystonecompany.com or by phone at (954) 271-2704.

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

*Revenue related calculations. Please note that the Company believes that any revenue related calculations are accurate and based on factual information, there can be no assurance that the Company will be able to achieve all projections due to number of business-related factors, such as equipment pricing, mining equipment availability, bitcoin mining difficulty, bitcoin market pricing and other unforeseen issues in deploying its mining rigs.  You can view update information on Bitcoin Mining by visiting https://minerstat.com/coin/BTC

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
Anastasia Shishova
Email: info@thegraystonecompany.com
Phone: (954) 271-2704

View original content:https://www.prnewswire.com/news-releases/graystone-company-announces-mining-performance-through-december-31-2021-301457641.html

SOURCE Graystone Company, Inc.

FAQ

What were Graystone Company’s mining revenues for 2021?

Graystone Company generated $187,085.17 in total mining revenue from September 15 to December 31, 2021.

How much profit did Graystone Company make from mining?

The company reported a profit of $62,661.53 from its mining operations during the same period.

What is the Bitcoin mined by Graystone Company?

Graystone Company mined 0.8859 Bitcoin, generating revenue of $48,285.17.

How many mining units did Graystone Company sell?

Graystone Company sold nine S19j Pro mining units, generating $138,800 in revenue.

What is the stock symbol for Graystone Company?

The stock symbol for Graystone Company is GYST.