iMD Companies, Inc. Signs Master Network Service Agreement Lease with Orem, Utah Data Center to Expand Chia Farming

Rhea-AI Summary

iMD Companies, Inc. (OTC: ICBU) announced a Master Network Service Agreement lease with an Orem, Utah Data Center to enhance its Chia plotting and farming operations. The agreement, effective June 1st, allows the company to utilize a high-speed Fiber internet connection, expected to boost farming efficiency. The initial setup will feature a 500 hard drive capacity enclosure, with plans to source an additional 1000 hard drives within two months. The company is also negotiating with a high-end pooling company to support its Chia farming expansion.

Positive

• Signed a Master Network Service Agreement lease to enhance Chia farming operations.
• High-speed Fiber internet expected to improve farming efficiency.
• Plans to build out 500 hard drive capacity enclosure in June.
• Negotiating with a high-end pooling company for further expansion.

Negative

• None.

OREM, UT, May 24, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – iMD Companies, Inc. (OTC: ICBU), announced today that the company has signed a Master Network Service Agreement lease with an Orem, Utah Data Center. The company is pleased to expand its Chia plotting and Farming operations at a facility that is on the Internet backbone. The Network Operating Center (NOC) is ultra high speed and super efficient. The key advantage to this location is the speed of using Fiber internet for our Chia Farming.

Our Network service agreement starts June 1st. We expect to have our first 500 hard drive capacity enclosure built out with rack mount servers in June. We specifically chose this location due to the expansion capabilities that exist for iMD. The company is currently looking to source an additional 1000 hard drives to build out our server enclosures that are at the Orem facility in the next two months. Furthermore, we believe that the speed of fiber will help as we increase our farming efficiency.

Another item we’re currently in Negotiations with is a high end pooling company that specializes in the very thing we’re pushing for in our next steps with Chia farming.

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About iMD Companies, Inc.

iMD Companies, Inc. (OTC: ICBU) is a Florida Corporation. The company has been re-positioned to be a holding company for acquisitions and technology development in the financial, blockchain, cryptocurrency, and NFT (non fungible token) markets. The company has expanded its operations to locations in California, Arizona, and Utah for Chia plotting and Mining. iMD's goal is to combine the expertise of our team members to create a cohesive force, which will carry the company forward in the marketplace.

Safe Harbor Statement

Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

Contact:

iMD Companies, Inc.

info@imdcompaniesinc.com

FAQ

What recent agreement did iMD Companies (ICBU) sign?

iMD Companies signed a Master Network Service Agreement lease with an Orem, Utah Data Center to enhance its Chia plotting and farming operations.

When does the Master Network Service Agreement for ICBU start?

The Master Network Service Agreement for iMD Companies (ICBU) starts on June 1st.

What is iMD Companies planning with Chia farming?

iMD Companies plans to build out a 500 hard drive capacity enclosure and source an additional 1000 hard drives to expand its Chia farming operations.

How will the new data center benefit ICBU's farming operations?

The new data center will provide high-speed Fiber internet, which is expected to significantly improve the efficiency of ICBU's Chia farming operations.