Graystone Buys 1,000 TH/s For Bitcoin Mining


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.

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