Quantum Blockchain Technologies PLC (AIM:QBT) (QBT) has announced numerous advancements in its research and development activities in the development of its disruptive Bitcoin mining technologies.
QBT has brought ‘Method C’ to the table, a novel approach leveraging machine learning and artificial intelligence oracle technology.
This method has demonstrated a consistent predictive ability in approximately 30% of cases, indicating when an input to the SHA-256 bitcoin mining algorithm will produce a winning hash, potentially saving significant amounts of energy.
After months of consistent results, QBT is nearing completion of its laboratory testing for Method C.
Method C differs from previously reported QBT’s Methods A and Method B in that it needs to be directly implemented onto the ASIC chip at the manufacturing stage, whereas Methods A and B can be supplied to already existing miners as a SaaS product.
The group is in early discussions with key industry players, including Bitcoin rig manufacturers and mining companies in the US, setting the stage for future commercial and technical collaborations.
QBT has commenced the development of a proprietary ASIC chip to be utilised as an affordable real-world proving ground for QBT’s disruptive Bitcoin mining technology.
Francesco Gardin, chief executive and executive chairman of QBT, commented: “The exceptional lab results achieved with Method C represent further evidence that QBT’s approach of applying advanced AI and machine learning techniques to improve the SHA-256 algorithm performance for Bitcoin mining, is correct.
All of the company’s current efforts are now focused on turning Methods A, B and C, into commercial products. This has proved very time consuming, due to the tremendous reverse engineering efforts involved in using totally undocumented third-party ASIC chips.
“All of the large North American and Chinese Bitcoin mining and chip manufacturing companies with whom QBT has engaged, are waiting for the results of our live tests, in particular with Method A and B, using currently available commercial mining rigs, before we can move to the commercial stage
“As announced on 20 October 2023, we can confirm that Method A and B have been redesigned to be technically available as a SaaS client-server cloud application.”
This news is republished from another source.
