Tyson made the admission on an episode of his podcast Hotboxin'

Boxing Legend Mike Tyson Admits He Spends Nearly $40K on Weed Every Month: 'Ain't That Crazy?'

Boxing legend Mike Tyson is revealing how he spends his earnings.

During an episode of his podcast Hotboxin’, Tyson invited rapper Jim Jones on to discuss the musician’s fledging cannabis business, Saucey.

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When Jones explained that it made sense for him to invest in the marijuana industry considering how often he buys the product for his own personal use, Tyson then admitted that he spends a whopping $40,000 a month on marijuana, himself.

“What do we smoke a month?” Tyson, 53, asked his co-host, Eben Britton. “Is it $40,000 a month? It’s 40, yeah, $40,000 a month.”

“We smoke 10 tons of weed at the ranch a month,” Britton added. “Ain’t that crazy?”

According to The Blast, Tyson, too, has invested in the cannabis industry, and is planning to open his very own ranch to grow high-quality strains of THC and CBD, while “implementing cutting-edge technology to advance the research on the health benefits of marijuana.”

Tyson first broke ground on the 40-acre facility, located in California City, in December.

According to The Blast, 20 acres of Tyson’s ranch is dedicated to agriculture, while another section of the grounds will be devoted to the Tyson Cultivation School, to help cannabis breeders learn the best techniques for growing their plants.

“I thought about how much good I could do by helping people with cannabis. It was a no brainer,” Tyson told Cannabis Tech Today of his business.

According to GQ, Tyson engaged in substance abuse following his boxing career, and marijuana helped him steer away from harder drugs.