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The circular mil is used as the area of the circle can be calculated without the use of Pi.
Thus the cross-sectional Area of the circle wire = D2
where D is the diamter of the circle in mils.
Larger wire sizes are rated in MCM or Thousand circular Mils. If the conductor cross section is square shaped, the size will be indicated in Square mils.
Square Mils = π/4 * D2