iMD Companies OTCMKTS:ICBU) was up slightly this morning after announcing this morning it is going to concentrate its resources on the farming of Chia cryptocurrency coins.
Market Action
ICBU shares are trading flat as of 3:00 Thursday at .0125. Volume is 42 million shares well below its 30 day average. Potential pivot points are .014 .016 and .018 above and .011 .010 and .008 below.
ICBU announced in March they were building servers for plotting and the farming process. In today’s announcement, iMD Companies announced that since starting operations, the company has been successful in winning Chia coins almost every day.
From the press release:- Our facilities have been winning Chia coins nearly every day from the start of our operations. iMD has continued to expand our servers and hard drive storage capacity on a weekly basis to reach our initial goal of over a pedabyte (1000 Terabytes) on the Chia mainnet in May. We are continuing our move of farming Chia (Chia.net) at an optimum rate.
More importantly, the company also announced this morning that it has worked towards continually expanding its server capacity and also the hard drive storage. It was done on a week-by-week basis. iMD has wanted to hit its initial goal of hitting 1000 Terabytes of storage on the Chia mainnet at some point in May.
iMD Companies, Inc., (OTC: ICBU) is a Florida corporation, and has re-positioned to be a holding company for acquisitions and technology development in the financial, blockchain, cryptocurrency, and NFT (non fungible token) markets.
ICBU has flattened out over the last 10 sessions after selling off its mid-March highs. The stock really needs to get through the .02 area for any big rally to begin.
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