TopNewsGuide: The Graystone Company (OTCMKTS:GYST) Hashrate to multiply by six
Bitcoin is in the spotlight after its recent price drop, but if new investors in this post-meme stock market world learned anything, it’s to “buy the dip”. The old buy low, sell high mantra certainly applies to GYST, which saw a price drop in January like all other crypto games.
Prior to last week, the stock was on as steady an uptrend as you would find in a company with the market capitalization of GYST. After reaching a minimum of
If the bitcoin rally continues, GYST may follow in tandem and return to its
GYST has a proven track record in its short time as a miner, since entering the market last spring as an equipment vendor and launching its own mining operations last September; the company has significantly increased its revenue and looks set to continue its growth trajectory in 2022.
GYST announced sales in the last three months of 2021 of
This revenue growth will continue if the company continues to increase its bitcoin production capacity.
From last September to November, the company’s terrahash rate doubled from 1,100 terrahash per second (TH/s) to 2,100 TH/s. After a recent acquisition, this capacity is expected to increase again to 6,200 TH/s.
For the uninitiated, the value of the Bitcoin mining company is based on the hashrate which is basically the computing power that the company possesses. The company’s goal is to reach 1 million TH/s or as stated in the crypto community, 1,000 PH/s by 2024. For perspective, companies like
At GYST’s current hashrate growth curve, the company will reach its goal well before 2024.
If the stock can reach similar prices to BTBT, CLSK, BTCM and GREE by then, early investors in GYST would feel like early investors in bitcoin towards the end of 2021.
VOLATILITY IN BITCOIN
Bitcoin is of course volatile, but analysts at JP Morgan predicted last October that Bitcoin could eventually reach a valuation of
Despite its recent decline, we’ve been here before with bitcoin, as its price recovers, analyst predictions may still prevail like Ark Invest
Keep in mind that there are a few underlying facts that differentiate bitcoin other than its first mover adoption rate:
-Only 21 million bitcoins will ever be produced.
-More than 90% have already been exploited (18.9 million).
-It is estimated that Bitcoin mining supply will be exhausted by 2040.
Scarcity alone combined with institutional adoption should support the value of the cryptocurrency.
GYST builds infrastructure, harnesses the mining potential of Bitcoin, and develops hosting equipment.
-The Company added 4,100 TH/s by acquiring 41 S19j Pro machines. Installation should begin at the end of this month. It is expected that they will initially be placed in third-party data centers or farms. GYST will house, power and maintain the equipment.
-GYST plans to mine only Bitcoin and all of its mining operations will be conducted through a wholly owned subsidiary, Graystone Mining.
-The current operations of GYST consist of 2,100 TH/s leased to
TO TAKE WITH
GYST started its bitcoin mining operations with a bang. Already ready to multiply by 6 its computing power since its launch in September; the company is on track to achieve its 1,000,000 TH/s target well ahead of the set 2024 deadline.
With bitcoin and thus public companies in the bitcoin industry rebounding, now is the time to put GYST on your
Disclaimer: Top News Guide ‘TNG’ is responsible for the production and distribution of this content. TNG is not operated by a licensed dealer, dealer or registered investment adviser. It should be expressly understood that in no way does the information published here represent a recommendation to buy or sell a security. Our reports/press releases are commercial advertising and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. Never invest in stocks featured on our site or in emails unless you can afford to lose your entire investment. The information made available by TNG is not intended to be, nor does it constitute, investment advice or recommendations. Contributors can buy and sell titles before and after any particular article, report, and publication. By no means TNG. be liable to any member, guest or third party for any damages of any kind arising from the use of any content or other material published or made available by TNG, including, without limitation, any loss of investment, loss of profit, opportunity special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information in this video, article and related newsletters is not intended to be, nor does it constitute, investment advice or recommendations. TNG. strongly urges you to conduct a full and independent investigation of the respective companies and consider all relevant risks. Readers are invited to consult
The Private Securities Litigation Reform Act of 1995 provides investors with a safe harbor regarding forward-looking statements. Any statements that express or imply discussions regarding predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be forward-looking statements. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made, which involve a number of risks and uncertainties that could cause actual results or events to differ materially from those currently anticipated. . Forward-looking statements in this action can be identified by the use of words such as plans, foresee, expect, anticipate, estimate, believe, understand, or by statements indicating certain actions and quote; can, could or could happen. Understand that there is no guarantee that past performance will be indicative of future results. Investing in microcap and growth stocks is highly speculative and involves an extremely high degree of risk. It is possible that an investor’s investment may be lost or depreciated due to the speculative nature of the companies featured.