The Graystone Company (OTCMKTS: GYST) announced jaw-dropping January revenues. The company’s revenues for January 2022 were greater than its sales for all of 2021 combined! GYST, a bitcoin mining company, booked these record revenues in a month where the cryptocurrency market was extremely bearish. With BTC on the rise, and more investors looking for ways to play the crypto rally, GYST could see a spike in interest.
This week, GYST is expected to up list to the OTCQB, which brings with it a higher accounting standard, QB companies must be current in their financial reporting, undergo an annual verification and management certification process.
This move brings even more weight to GYST’s $184,000 in January revenue.
CAN GYST’s REVENUE GROWTH CONTINUE?
Prior to last week’s massive revenue announcement, $GYST already looked primed for a big year. Graystone announced the acquisition of 50 Antminer S19j Pro mining computers. This represents a huge jump in the company’s ‘hashrate’ which is a term that refers to its computing power. GYST can now mine bitcoin at a faster rate.
The Graystone Company also laid out a plan to acquire 300 machines by the end of the year. This had some investors drooling over its potential revenue growth based on these units alone.
However, nobody could have seen this coming. Especially in a month where bitcoin prices were in the low 30s. This morning, Fortune reported FSInsight projects…
