iMD Companies to resume crypto mining, expand into precious metals

RANCHO CORDOVA, CA - iMD Companies, Inc. (OTC:ICBU), a micro-cap company with a market capitalization of $7.09 million and a "GREAT" InvestingPro Financial Health score of 3.69, announced Thursday it will resume cryptocurrency mining operations focused on ASIC-resistant altcoins while expanding into precious metals mining through potential U.S. partnerships.

The company plans to mine GPU-friendly cryptocurrencies including Ravencoin, Ethereum Classic, Kaspa, and Ergo, building on its previous crypto initiatives from 2021-2022. Despite the stock’s 50% decline over the past year and YTD return of -31.82%, according to InvestingPro data, these selections target coins that resist ASIC dominance to ensure accessibility and sustainability.

Simultaneously, iMD is pursuing diversification into traditional precious metals mining, stating it is in negotiations with several mining companies that have rights to placer and lodge claims. The company indicated these potential partners are completing geological reports to assess claim valuation and feasibility, with a focus on gold and silver extraction.

"By leveraging our existing infrastructure and forging new partnerships, we are poised to drive significant revenue growth in both high-growth and stable markets," said Rick Wilson, CEO of iMD Companies, in the press release statement.

The company described its strategy as a dual approach intended to balance the volatility of cryptocurrency with more stable precious metal assets. Current market prices referenced in the announcement place gold at approximately $3,700 per ounce and silver at around $42 per ounce.

iMD Companies, which describes itself as a Florida-based holding company for acquisitions and technology development in healthcare markets, did not disclose specific investment amounts, operational timelines, or projected revenue figures for either initiative. InvestingPro analysis reveals additional insights about the company’s financial health and market performance, with subscribers having access to over 30 key metrics and exclusive ProTips about the company’s valuation and growth potential.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.