Business
Porting of Methods A & B
Porting of Methods A & B.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n \nQuantum Blockchain Technologies Plc\n(“QBT” or “the Company”)\n \nPorting Method A and Method B into Commercial Miners\n \n \nHIGHLIGHTS\n\nEngaging with North American cryptocurrency miners\nRedesign of Method B for Chinese manufactured mining machines, which opens up a further 75% of total bitcoin mining market for QBT\nMethod A increases mining performance by nearly 10%\nMethod B increases mining probability by 2.6 times \nQuantum Blockchain Technologies Plc (AIM: QBT), a disruptive software and ASIC chip developer focused on changing the way Bitcoin is mined, reports that in the past three months, the Company has engaged with a number of the largest North American cryptocurrency miners in order to better understand their commercial needs. This typically entails these parties providing QBT with a number of the most commonly used mining rigs available in the market for the Company to study and implement the porting of its Method A and Method B chip enhancements.\n \nThe Company is targeting not only Intel’s Blockscale based miners, but also the most popular mining rigs produced in China, which are used by more than 75% of the global Bitcoin market(1}. However, due to lack of publicly available technical documents concerning the mining machines produced by Asia-based manufacturers, the Company has been faced with a very challenging software engineering project. Nonetheless, through the partial redesign of Method B, the Company can start porting on the equipment made by the largest mining rig manufacturer in that region. The Company’s R&D Machine Learning team has been able to quickly modify Method B while retaining the entirety of its performance enhancements, as confirmed through internal testing undertaken by the R&D team. QBT expects that this encouraging result will (once the porting of Method B on the mining rig firmware has been completed), allow the Company to pursue commercial arrangements for the deployment of QBT’s methods in the mining hardware market segment.\n \nAs a result, the Company is looking to engage with potential partners to deploy Method B in Chinese produced mining rigs, which currently represent over 75%{1} of all operational machines in the Bitcoin mining industry. In monetary terms, at the current overall hashing power of the Bitcoin...