Business
R&D Update
R&D Update.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n15 August 2024 Quantum Blockchain Technologies Plc(“QBT” or “the Company”) R&D and Business Update Quantum Blockchain Technologies (AIM: QBT), the AIM-listed investment company focusing on a R&D and investment programme within blockchain technology, is pleased to provide an update of its recent R&D activities for the development of its disruptive Bitcoin mining technologies. OverviewThe R&D activity during the past four months has been focused on two main directions: · Further improvement in the results obtained in the laboratory for the three Artificial Intelligence (“AI”) Methods: A, B and C, and · The porting of these Methods onto existing commercial mining hardware. The short-term strategic goal is to achieve real-time bitcoin mining via one, or more, of the existing Bitcoin mining pools, through a collaboration or in partnership with a leading Bitcoin miner. In addition, the team is continuing to apply to secure patents for its IP by working with the Company’s Patent Attorney as follows: · to extend the two existing patent applications by applying for international patents,· by continuing the work on its third patent application, and · by defining the scope for a new, fourth patent application. Finally, Chief Research Officer, Francesco Gardin and senior colleagues have recently attended two of the major US Bitcoin conferences. As well as showcasing QBT’s technology, the Company met with a number of potential North America mining partners and consultants, in order to consolidate its existing business contacts and establish new ones, in preparation for the planned commercial deployment of the three Methods. R&D ActivityWhile QBT’s AI-based mining technology has shown consistent results under laboratory conditions, supported by verifiable experimental data, the Company’s research teams are continuously challenging the efficiency of the obtained results to further improve them. QBT’s software engineers are continuing to attempt to successfully port the Methods to existing commercial ASIC-based mining hardware and software system, via CGMiner. This remains challenging due to...