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Graystone Company Inc (OTCMKTS:GYST) Releases Bitcoin Mining Results For April

Ash K , , , ,

Yesterday, the Graystone Company Inc (OTCMKTS:GYST) was in the news after it announced its Bitcoin mining results for the month of April and the revenues for the fiscal year.

Market Stats      

On Thursday, GYST stock fell 1.61% to $0.0153 with more than 45K shares, compared to its average volume of 427K shares. The stock moved within a range of $0.0153 – 0.0165 after opening trading at $0.0165.

Graystone Company Announces It’s April Bitcoin Mining Results

The results seem to have come as a source of optimism among investors as the stock ended the day with gains of as much as 4%. The company announced that it managed to get as much as 0.39316133 worth of Bitcoin from its mining operations in the month of April and that provided to be 39% higher than the 0.2897678 Bitcoin that it had received in the previous month. It goes without saying that the rise was a significant development for the company.

Graystone went on to add that it held as many as 2.4 Bitcoin in its holdings and on top of that, the company also noted that as of December 31, 2021, it had cash reserves of $400,000. It is likely that the company’s Bitcoin mining operations are going to get another significant boost this month since new mining equipment is going to be brought online.

Graystone has also been working on the possibility of getting its own hosting capabilities and that is another factor that ought to be on the minds of investors.

Key Quote

“The beginning of our 2022 Fiscal Year has been very productive for the company and I am proud to share our impressive financial results. With the steady growth of our company, we are committed to expand our bitcoin mining operations. We believe in being proactive and implementing creative business solutions as we reach milestones of our business plan. With our on-going strategic initiatives, I see enormous opportunities in front of us and building our new hosting facility is one of them. ” said Anastasia Shishova, CEO of The Graystone Company.

Traders Corner

GYST stock is trading above the 20-Day and 50-Day Moving averages of $0.0168 and $0.0168 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0255.