Quantum Blockchain Technologies (QBT)

Sector:

Financials

Index:

FTSE AIM All-Share

1.18p
   
  • Change Today:
      0.025p
  • 52 Week High: 3.00
  • 52 Week Low: 0.78
  • Currency: UK Pounds
  • Shares Issued: 1,291.31m
  • Volume: 19,209,110
  • Market Cap: £15.17m

Quantum Blockchain upbeat on latest development progress

By Josh White

Date: Tuesday 15 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Quantum Blockchain updated the market with the latest advances by its research and development team on Tuesday, which it said was working on proprietary methods to create "cheaper, faster and more energy-efficient" bitcoin miners.
The AIM-traded firm said the preliminary results of machine learning method 'B' indicated a 30% improvement over commercially-available ASIC chip-based miners.

Regularities were identified within the 'SHA-256' algorithm, marking progress towards potential patent filing.

Quantum said it was also investigating the potential of a third-party licensing strategy, to exploit early revenues.

It also announced the appointment of Dr Rita Pizzi as its chief research officer.

"Whilst the company is still considering direct mining, a more immediate and less capital-intensive approach is to exploit mining revenue with an existing bitcoin miner, who would be allowed, under licence, to adopt the company's method 'B' control software," said chief executive officer and executive chairman Francesco Gardin.

"The company is currently exploring this route.

"We are engaged in an extremely demanding research and development effort to deliver competitive results."

Gardin described the amount of information processed to achieve such goals as "huge", as it searched and analysed regularities in data spaces of "large orders of magnitude".

"Verification testing on hypotheses of discovered regularities is extremely demanding, hence the disparity of the timing of results confirmation between a discovery and its confirmation.

"I am therefore very pleased that despite the long verification time this approach is taking, such regularities and correlations have been identified.

"Moreover, the ability to control commercial ASIC mining chips with our machine learning methods, could provide a tactical shortcut to generate revenues."

That, Francesco Gardin said, would allow the firm to continue with its proprietary ASIC chip design and work on its quantum computing algorithm, pending the availability of quantum computers with enough qubits to run its software.

At 1230 GMT, shares in Quantum Blockchain Technologies were down 17.15% at 1.08p.

Reporting by Josh White for Sharecast.com.

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QBT Market Data

Currency UK Pounds
Share Price 1.18p
Change Today 0.025p
% Change 2.17 %
52 Week High 3.00
52 Week Low 0.78
Volume 19,209,110
Shares Issued 1,291.31m
Market Cap £15.17m

QBT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
80.03% above the market average80.03% above the market average80.03% above the market average80.03% above the market average80.03% above the market average
75.24% above the sector average75.24% above the sector average75.24% above the sector average75.24% above the sector average75.24% above the sector average
Price Trend
20.34% below the market average20.34% below the market average20.34% below the market average20.34% below the market average20.34% below the market average
15.52% below the sector average15.52% below the sector average15.52% below the sector average15.52% below the sector average15.52% below the sector average
Income Not Available
Growth
41.6% below the market average41.6% below the market average41.6% below the market average41.6% below the market average41.6% below the market average
31.48% below the sector average31.48% below the sector average31.48% below the sector average31.48% below the sector average31.48% below the sector average

QBT Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:29 82,666 @ 1.17p
16:27 173,464 @ 1.17p
16:24 125,000 @ 1.17p
16:22 50,000 @ 1.16p
16:18 210,442 @ 1.17p

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