Shares of Graystone Company Inc. (OTCMKTS:GYST) continued to trend lower on Thursday. The stock has fallen 12% in a week.
Market Reaction
On Thursday , GYST stock fell 4.72% to $0.0300 with 187k shares, compared to its average volume of 1.22 million shares. The stock has moved within a range of $0.0280 – 0.0324 after opening trade at $0.0322.
Graystone Company Completes Purchase Agreement for Acquiring and Hosting Bitcoin Mining Equipment
Graystone Company Inc. (OTCMKTS:GYST) announced on the December 23, 2021, about executing a Master Purchase Agreement with Blockware Solutions. The agreement covers the acquisition, installation, hosting and maintenance of Graystone’s Bitcoin Mining equipment.
As per the agreement, Graystone Company will be provided reliable access by Blockware Solutions, to inexpensive electricity. The access is integral because it lets the former mine more profitably as compared to most of their North American competitors and provide hosting services at competitive price point. Due to smooth access to affordable power, it ensures cost certainly for Graystone, thus enabling them to execute on all short and long-term business strategies.
Anastasia Shishova, CEO of The Graystone Company, says they are thrilled to be collaborating with one of the industry leaders in Bitcoin and Cryptocurrency mining that offer services in the United States. Apart from acquiring mining equipment, they are looking forward to expanding mining operations alongside Blockware. She believes it will be a long and fruitful partnership, while they emerge as one of the biggest mining pools based in the US.
According to Graystone Company’s decade-long growth plan, the agreement is expected to position them to adapt to market downturns better than its competitors, while generating considerably higher returns during bull cycles.
Traders Review
GYST stock is trading below the 20-Day and 50-Day Moving averages of $0.0357 and $0.0354 respectively. However, the stock is trading above the 200-Day moving average of $0.0266. The stock is down 25% over the past month.
