Graystone Company has announced in a press release an acquisition of 1,000 tera hashes per second (TH/s) in capacity for its Bitcoin mining operations. The purchase is the first step toward a company goal of acquiring 50,000 TH/s in 2021 and 100,000 TH/s in 2022.
“The 1,000 TH/s is expected to generate 0.00501981 BTC (or $221.23) per day,” the company shared in the release. “The acquisition cost was $49,445 and was paid by our CEO. The equipment will be hosted in the United States and is expected to be delivered and set-up by September 15, 2021.”
Graystone also shared the costs of maintenance and power of its Bitcoin mining efforts, which will be at a rate of $1.69 per TH/s per month — totaling $1,690 per month for this initial 1,000 TH/s mining capacity. Moreover, the company calculated its breakeven point to be at a bitcoin price of around $23,640 over 36 months.
Graystone has set up a corporate Bitcoin wallet address to allow shareholders to see both the bitcoin balance and any transactions from the wallet. Additionally, a live stream of the company’s mining dashboard will be provided for shareholders, similarly to a demo video it shared on Twitter.
Apart from its Bitcoin mining operations, Graystone also develops and markets products in longevity, wellness and fertility categories, but is yet to sell any products and generate any revenue.