Graystone Company Continues To Expand With Purchase of Additional S19j Pros For Its Bitcoin Mining Operation

Rhea-AI Summary

Graystone Company, Inc. (OTC: GYST) announced a significant expansion of its bitcoin mining operations, increasing its purchase of S19j Pro machines from 10 to 25 units. These machines are set for December delivery, with installation planned for January 2022. The company expects to generate yearly revenue of $487,756 and operational profit of $405,220. Graystone is also exploring subleasing opportunities for additional revenue and emphasizes its commitment to environmental sustainability through clean energy sourced from a nuclear power plant.

Positive

• Increased purchase of S19j Pro machines to 25 units.
• Expected yearly revenue of $487,756 and operational profit of $405,220.
• Exploring subleasing opportunities to generate supplemental revenue.
• Commitment to environmental sustainability through zero-emission energy sources.

Negative

• Uncertainties surrounding actual revenue generation due to factors like equipment pricing and bitcoin market fluctuations.

FORT LAUDERDALE, Fla., Nov. 17, 2021 /PRNewswire/ -- Graystone Company, Inc. (OTC: GYST) is pleased to announce the successful expansion of its bitcoin mining operations. Just two weeks after placing an order for 10 units of S19j Pro (100 TH/S) we were able to secure the purchase of 15 additional machines, thereby, increasing the number of units purchased to 25 total. This new equipment is scheduled for December delivery and is expected to be installed in January 2022. The cost to host the units is estimated at $185 per unit per month. Once the new equipment is installed and operational, the Company is expected to generate the following:

Yearly Revenue*: $487,756
Yearly Expenses for machines*: $82,536
Yearly operational profit*: $405,220

Due to extremely high demand, we are planning to dedicate some of the equipment and space we have acquired to subleasing to 3rd party clients. This business model will provide supplemental revenue in addition to mining BTC for ourselves.

It is important to mention that the company is committed to environmental sustainability and a clean energy approach. The co-location we have engaged generates its power from a nuclear power plant, thereby allowing the Company's equipment to be powered by a zero-emission clean energy source. This business decision is in-line with our values and represents a mindful step on our journey to be a net-zero climate impact mining operation.

About The Graystone Company, Inc.
Graystone Company operates two divisions:  (1) Bitcoin Mining; and (2) sale and hosting of Bitcoin mining equipment. The Graystone Company, Inc. (OTC: 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-continues-to-expand-with-purchase-of-additional-s19j-pros-for-its-bitcoin-mining-operation-301426657.html

SOURCE Graystone Company, Inc.

FAQ

What recent expansion has Graystone Company (GYST) made in its bitcoin mining operations?

Graystone Company expanded its bitcoin mining operations by increasing its purchase from 10 to 25 S19j Pro mining machines.

What is the expected yearly revenue from the new bitcoin mining equipment for GYST?

The expected yearly revenue from the new equipment is $487,756.

When are the new bitcoin mining machines expected to be delivered and installed?

The new machines are scheduled for delivery in December 2021 and installation in January 2022.

What financial figures are associated with Graystone Company’s new bitcoin mining initiative?

Graystone anticipates yearly expenses of $82,536, leading to an operational profit of $405,220.

How does GYST plan to ensure environmental sustainability in its bitcoin mining operations?

Graystone Company plans to utilize clean energy sourced from a nuclear power plant to power its operations, promoting a zero-emission approach.