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CalEthos, Inc. (OTC Markets: BUUZ) has announced significant changes as it transitions to AIQ Blockchain, Inc. The company closed a $3.5 million financing to develop a 5 nanometer ASIC chip for bitcoin mining, aiming to create energy-efficient systems that consume at least 50% less electricity than traditional models. The new immersion-cooled mining systems are set for prototype testing by mid Q2-2022. CalEthos is also upgrading to the OTCQB exchange and changing its trading symbol to AIQB.QB pending approval.
CalEthos, Inc. (OTC Markets: BUUZ.PNK) announced a strategic shift from cannabis retail to cryptocurrency. The company plans to develop high-performance computer systems for crypto transactions, featuring a 5 nanometer ASIC chip and immersion-cooled bitcoin mining systems. This transition follows the challenges in cannabis financing exacerbated by the COVID-19 pandemic. CalEthos, expected to rebrand as AIQ Blockchain, Inc. with a new trading symbol, aims to upgrade its OTC listing. Development is projected to take 10-12 months, and financing will be sought from accredited investors.