Graystone Company Forecasted Revenue from Bitcoin Mining Operation

Rhea-AI Summary

Graystone Company (OTC: GYST) announced that its Bitcoin mining operations, launched on May 20, 2021, are now generating revenue. The company has secured 2,130 TH/s, projected to yield $313,833 annually. Initial operations will commence by September 15, 2021, with full operations expected by October 2021. Graystone aims for 50,000 TH/s, forecasted to generate $7,132,590 in gross revenue. The company promises transparency with a Bitcoin wallet accessible to shareholders.

Positive

• Current Bitcoin mining operations generating annual revenue of $313,833.
• Projected gross revenue from 50,000 TH/s at $7,132,590.

Negative

• Dependence on fluctuating Bitcoin prices and mining difficulty.
• Operational risks related to timely equipment acquisition.

FORT LAUDERDALE, FL, Aug. 11, 2021 /PRNewswire/ -- Graystone Company, Inc. (OTC: GYST) announced today that the Company's Bitcoin Mining Operations, which began on May 20, 2021, has begun generating revenue for the Company.  

The Company has acquired 2,130 TH/s which is expected to generate $313,833 in annual revenue.  This is based on current pricing and mining difficulty*.  The initial 1,100 TH/s is expected to be set-up and operational by September 15, 2021, with an additional 1,000 TH/s operational in October 2021.  The cost of maintenance and power for the company's mining operations is expected to be $1.69 per TH/s per month ($3,599 per month for the 2,130 TH/s). 

The Company's goal of 50,000 TH/s is expected to generate $7,132,590 in gross revenue and $6,118,590 in net revenue (after maintenance and power)*. The Company is working with its suppliers and investors to expediate the acquisition of additional mining equipment towards its goal of 50,000 TH/s over the next 12 months and 1,000,000 TH/s by 2024.

The Company's Bitcoin wallet address, allowing shareholders to see the transactions from the Company's mining operations and the balance in the wallet, can be found on our website at https://www.thegraystonecompany.com/blockchain. 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 our Bitcoin Mining operations. 

*Calculated using: https://novablock.com/calculator. These calculations are based as of the below assumptions and 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. Assumptions as of August 9, 2021: BTC price $45,688.00. Mining difficulty 14496442856349.12

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  

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-forecasted-revenue-from-bitcoin-mining-operation-301352672.html

SOURCE Graystone Company, Inc.

FAQ

What is the revenue forecast for Graystone's Bitcoin mining operations?

Graystone Company forecasts annual revenue of $313,833 from its current operations.

When will Graystone's Bitcoin mining operations be fully operational?

The company expects its initial 1,100 TH/s to be operational by September 15, 2021, with full operations by October 2021.

What is Graystone's goal for Bitcoin mining capacity?

Graystone aims to reach 50,000 TH/s, expected to generate $7,132,590 in gross revenue.

How does Graystone ensure transparency in its mining operations?

The company provides a public Bitcoin wallet address for shareholders to view mining transactions.

What are the risks associated with Graystone's Bitcoin mining operations?

Risks include fluctuating Bitcoin prices, mining difficulty, and potential delays in equipment acquisition.