Majic Wheels Corp. announced an update to shareholders about Phase One of CGCX’s Cryptocurrency Mining Operations. The CGCX Cryptocurrency Mining operations encompass a large project to mine several different cryptocurrencies. Phase One of the mining operations will focus heavily on ETH mining and rely on Ethash and Etchash algorithms. CGCX’s ETH mining operations are scheduled to begin in the fourth quarter of 2021 and reach full scale by the second quarter of 2022. Proof of concept machines have already been received and currently undergoing testing with positive results. Planned capacity is for 500 mining rigs with 12 GPUs per rig for a total of 6,000 GPUs ordered and a planned phased delivery within 6 months. Once all the miners are installed, the Company’s hash rate will be approximately 402,000 MH/s for less than 1 MWh power usage. The average mining cost for hosting services, electricity, data center management, and hosting related expenditure will be $0.07 per kWh. Data center will be partly powered with renewable energy, with a target for a carbon neutral footprint of more than 50%.