Business
VisionWave Enters into $10 Million Statement of Work for Development of qSpeed-Mine™ - Mining Acceleration Platform
WEST HOLLYWOOD, Calif., Feb. 17, 2026 (GLOBE NEWSWIRE) -- VisionWave Holdings, Inc. (Nasdaq: VWAV) today announced the execution of a $10 million Statement of
About this update from Visionwave Holdings, Inc.
[{"type":"text","content":"WEST HOLLYWOOD, Calif., Feb. 17, 2026 (GLOBE NEWSWIRE) -- VisionWave Holdings, Inc. (Nasdaq: VWAV) today announced the execution of a $10 million Statement of Work (SOW) with a third-party vendor to develop, validate, and deploy a custom qSpeed-Mine™ cryptocurrency mining acceleration and orchestration platform. VisionWave views this SOW as the beginning of QuantumSpeed™’s transition from acquisition thesis to paid, performance-gated commercial execution. The SOW is structured as a fixed-fee, milestone-based program with objective acceptance criteria and payments tied directly to verified technical delivery and operational performance. Commercial Structure, Timeline, and Milestone-Based Payments The SOW spans an expected program duration of approximately 32 weeks, progressing from initial platform validation through proof-of-concept (“POC”) and into full-scale deployment. Key commercial milestones include: $350,000 paid upon contract executionApproximately $1.0 million earned through completion and acceptance of the POC milestoneApproximately $6.0 million earned across successive intermediate milestones, including scaled deployment and operational validationApproximately $3.0 million payable upon final delivery and full program acceptance If milestone execution proceeds as planned, the SOW is structured to generate not less than the full $10 million in revenue during calendar year 2026, subject to milestone completion and acceptance of which there is no guarantee. Revenue is expected to be recognized in accordance with milestone achievement and acceptance under the contract terms. The Moment the Story Ends and the Business Begins QuantumSpeed™ was acquired with the goal of unlocking meaningful performance and efficiency gains in compute-intensive, deterministic environments where latency, energy consumption, and operational stability directly determine economics. The executed SOW seeks to launch qSpeed-Mine™, a production-scale deployment of the QuantumSpeed™ platform across a distributed environment of up to 1,000 nodes, governed by reproducible benchmarks, KPI-driven acceptance gates, and staged operational rollouts. Accelerating Existing Infrastructure — Driving Down Unit Cost A core objective of the engagement is to enable existing mining infrastructure to operate at materially higher effective performance through advanced s...