iMD Companies, Inc. Transitions Operations to Mine Bitcoin and Alternative Coins and Gives Update on the iMD Crypto Coin Development

Rhea-AI Summary

iMD Companies, Inc. (OTC: ICBU) announced the upgrade of its mining operations to include new hardware for bitcoin and alternative coins, aiming to increase revenue. The company is developing its own cryptocurrency, the iMD Coin, set for release with an initial offering of 100 million coins backed by a variety of assets including bitcoin and ethereum. Additionally, iMD plans to launch its own exchange within four to six weeks, facilitating trading and transactions within its ecosystem. Regular updates will be provided to shareholders regarding the coin's launch and NFT auctions.

Positive

• Upgrade of mining rigs for bitcoin and alternative coins aims to boost revenue.
• Development of the iMD Coin, backed by a diverse asset basket, enhances credibility.
• Launch of a proprietary exchange planned within four to six weeks to support trading.

Negative

• None.

Mountain View, CA, July 29, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- iMD Companies, Inc. (OTC: ICBU), announced today that the Board of Directors has approved the transition and upgrade of our servers and additional new hardware mining rigs to mine a series of alternative coins and cryptocurrencies. With the recent gains in bitcoin, we are in the process of upgrading our GPU mining rigs to support bitcoin mining as well as alternative coins. We are determined to utilize our servers to mine the most profitable coins at this time with the best possible solutions to add revenue to our bottom line. This also aids to the development of our own iMD Crypto Utility/Asset based Coin.

The company's development of our own coin is progressing very well. We look to have a launch date in the near future for our coin. The number of coins is set for 100,000,000 for the initial coin offering. In addition, iMD is going to back its coin with assets. The iMD Coin will be tethered or “backed” by a basket of assets from bitcoins, ethereum, litecoin and bitcoin Cash, ADA and more.

iMD will utilize this coin for trading, financial transactions, and ultimately build it to reward those who use it, and transact with it as well. We are looking to build our own exchange that will trade, sell, and transact with it within iMD’s own cryptocurrency ecosystem. Presently, we’re looking to add our exchange to our portfolio within the next four to six weeks.

iMD will be identifying the name of our coin, pay system and other supporting items to our coin in the near term. We already have digital art we expect to use to go onto our NFT platform and utilize our coin for transactions. iMD is excited to run the course on this new coin ecosystem and we will keep our shareholders apprised of our updates and the ability to purchase our coin and participate in the NFT auctions we expect to provide as well.

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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. 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 is the latest announcement from iMD Companies regarding mining operations?

iMD Companies announced an upgrade to its mining operations to include new hardware for bitcoin and alternative coins to increase revenue.

When will iMD Companies launch its own cryptocurrency?

iMD Companies plans to launch its own cryptocurrency, the iMD Coin, with an initial offering of 100 million coins, in the near future.

What assets will back the iMD Coin?

The iMD Coin will be backed by a basket of assets including bitcoin, ethereum, and other cryptocurrencies.

Is iMD Companies creating its own cryptocurrency exchange?

Yes, iMD Companies plans to launch its own cryptocurrency exchange within four to six weeks.

How will iMD Coin be used?

The iMD Coin will be utilized for trading, financial transactions, and as a reward for users within iMD's cryptocurrency ecosystem.