Houston, Texas, July 09, 2021 (GLOBE NEWSWIRE) — Majic Wheels, Corp. (OTC Pink: MJWL) (“Majic” or the “Firm”), a Delaware company, that’s positioning itself as a participant within the disruptive industries of fintech and software program growth by the use of acquisitions, needs to problem an replace to shareholders about Section Considered one of CGCX’s Cryptocurrency Mining Operations.
The CGCX Cryptocurrency Mining operations embody a big venture to mine a number of completely different cryptocurrencies. Section One of many mining operations will focus closely on ETH mining and depend on Ethash and Etchash algorithms. CGCX’s ETH mining operations are scheduled to start within the fourth quarter of 2021 and attain full scale by the second quarter of 2022.
Proof of idea machines have already been obtained and at the moment present process testing with constructive outcomes. Deliberate capability is for 500 mining rigs with 12 GPUs per rig for a complete of 6,000 GPUs ordered and a deliberate phased supply inside 6 months. As soon as all of the miners are put in, the Firm’s hash price can be roughly 402,000 MH/s for lower than 1 MWh energy utilization. The common mining price for internet hosting companies, electrical energy, knowledge heart administration, and internet hosting associated expenditure can be $0.07 per kWh. Knowledge heart can be partly powered with renewable power, with a goal for a carbon impartial footprint of greater than 50%.
ʺThe technical workforce of CGCX has completed wonderful work making ready for the proof of idea. The workforce’s technique is aimed in the direction of conversion to the best yield cash. We’re excited and desirous to share the outcomes of our testing with our shareholders within the coming weeks.” mentioned David Chong, Chief Government Officer of Majic Wheels, Corp.
The Firm can be releasing extra info and particulars on CGCX transferring ahead. To that finish, the Firm needs to remind shareholders and potential traders that it is going to be internet hosting an internet presentation within the month of July. The main points of which can be shared shortly. To obtain updates in regards to the particular particulars of the time and place, please register on our web site right here:
About Majic Wheels Corp.
Majic Wheels Corp Inc., a Delaware holding company, intends to place itself as a participant within the disruptive industries of Fintech and software program growth by the use of a number of acquisitions. The Firm’s first acquisition is the cryptocurrency alternate and custody companies platform: Calfin International Crypto Trade – CGCX. Majic Wheels Corp. is listed and traded on the Over-the-Counter Market underneath the buying and selling image “MJWL”.
For extra details about the Firm go to:
Our OTC Markets Profile: https://www.otcmarkets.com/stock/mjwl/overview
Our web site is: https://majiccorp.co/
Our Twitter account is: https://twitter.com/MajicCorp
Our Discord: https://discord.gg/apolloassets
About CGCX Ltd.
Based in 2018, Calfin International Crypto Trade CGCX got down to supply a extremely refined cryptocurrency alternate for a seamless & safe crypto buying and selling expertise. Not like most exchanges that supply solely cryptocurrency buying and selling, CGCX caters to the bigger blockchain neighborhood by offering 4 companies underneath a single platform.
CGCX Web site: https://www.cgcx.io
SAFE HARBOR STATEMENT
This press launch comprises forward-looking statements that may be recognized by terminology comparable to “believes,” “expects,” “potential,” “plans,” “suggests,” “might,” “ought to,” “might,” “intends,” or comparable expressions. Many forward-looking statements contain recognized and unknown dangers, uncertainties and different elements which will trigger precise outcomes to be materially completely different from any future outcomes implied by such statements. These elements embody, however will not be restricted to, our potential to proceed to reinforce our merchandise and programs to deal with trade adjustments, our potential to broaden our buyer base and retain current prospects, our potential to successfully compete in our market phase, the dearth of public info on our firm, our potential to lift ample capital to fund our enterprise, operations, our potential to proceed as a going concern, and a restricted public marketplace for our frequent inventory, amongst different dangers. Many elements are troublesome to foretell precisely and are typically past the corporate’s management. Ahead-looking statements converse solely as to the date they’re made, and we don’t undertake to replace forward-looking statements to replicate circumstances or occasions that happen after the date the forward-looking statements are made.
SOURCE: Majic Wheels Corp.
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