Graystone Company Inc announced that its Bitcoin Mining Operations, which began on May 20, has started generating revenue for the Company.
The company is working with its suppliers and investors to expedite the process of obtaining more mining equipment, so as to reach its goal of 50,000 Terrahash (TH/s) and 1,000,000 TH/s by 2021 and 2024 respectively.
An additional 1,000 Terrahash (TH/s) is expected to come online in September.
It is estimated that 1,000 TH/s would generate approximately $110,447 per year in revenue as of writing. The Company’s CEO has paid the acquisition cost of $49,445 for the first 1,000 TH/s.
The equipment will be hosted in the US and the additional installment of equipment is expected to be delivered and set up by September 15, 2021.
The maintenance and power for the mining operations will cost $1.69 per TH/s per month.
