Graystone Company Announces Profitability And Increased Revenue For October 2021

Rhea-AI Summary

Graystone Company reported preliminary unaudited financial results for October 2021, revealing total revenues of approximately $58,000, a staggering increase of 1,568% from September 2021. Key drivers include a 343% rise in bitcoin mining revenue and a 188% increase in the value of their bitcoin holdings. The company anticipates a gross operating profit of about $13,000, excluding non-cash transactions. These gains are attributed to the deployment of new mining equipment and the launch of a division focused on selling and hosting mining equipment.

Positive

• Total revenues for October 2021 increased to approximately $58,000, up 1,568% from September 2021.
• Bitcoin mining revenue rose by 343%.
• Value of bitcoin holdings increased by 188%.
• Anticipated gross operating profit of approximately $13,000 for October 2021.

Negative

• None.

FORT LAUDERDALE, Fla., Nov. 1, 2021 /PRNewswire/ -- Graystone Company, Inc. (OTC: GYST), is pleased to provide preliminary unaudited financial results for the month ended October 31, 2021.

• Preliminary results for our total unaudited revenues have increased to approximately $58,000, consisting of (1) cryptocurrency mining, (2) sales of mining equipment and (3) realized gain on sales of digital currencies. This exceeds our revenues in September 2021 by 1,568%.
• Preliminary results show our unaudited bitcoin mining revenue increased by 343%.
• Preliminary results show the value of our bitcoin holdings in USD increased by 188%.
• Preliminary results for total unaudited revenues, less general expenses, are expected to show gross operating profit of approximately $13,000 for October 2021. This doesn't include non-cash transactions.

The increase in revenues and gross profits was primarily due to (1) deployment of high performing mining equipment and (2) launch of our new division that sells and hosts mining equipment.  We consider this to be a great success in such short period of time, considering, that we transitioned to mining just a few months ago in May, 2021.

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.
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 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://novablock.com/calculator.

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:https://www.prnewswire.com/news-releases/graystone-company-announces-profitability-and-increased-revenue-for-october-2021-301412879.html

SOURCE Graystone Company, Inc.

FAQ

What were Graystone Company's revenues for October 2021?

Graystone Company reported revenues of approximately $58,000 for October 2021, a 1,568% increase compared to September 2021.

How much did Graystone's bitcoin mining revenue increase in October 2021?

Graystone Company's bitcoin mining revenue increased by 343% in October 2021.

What is the expected gross operating profit for Graystone in October 2021?

The expected gross operating profit for Graystone Company in October 2021 is approximately $13,000.

What contributed to the revenue growth for Graystone Company in October 2021?

The revenue growth was primarily due to the deployment of high-performing mining equipment and the launch of a new division selling and hosting mining equipment.