Quantum Blockchain Shares Jump on Bitcoin- Mining Technology Tests

Quantum Blockchain Shares Jump on Bitcoin-Mining Technology Tests

By Michael Susin

Quantum Blockchain Technologies PLC shares rose on Friday after the organization said that it will test its quicker Bitcoin- mining program in a quantum PC and that it will fill licenses following positive outcomes as it hopes to place it being used when possible.

Shares were up 32% at 3.05 pence.

The organization said that it will begin testing its quantum form of a Bitcoin mining calculation on a quantum PC, following a concurrence with a significant U.S. innovation maker last week.

“Based on data we have recorded to date, we expect to see a higher performance than originally estimated; this is mainly due to the optimizations which will be included in the second patent application, based on the work of our cryptography expert and the coding techniques implemented by our FPGA/ASIC Design Team,” Chief Executive Officer Francesco Gardin said.

It added that tests are continuous to affirm assuming the organization’s calculation and its ASIC chip, which is presently being worked on by the organization, could expand the Bitcoin mining speed.

Write to Michael Susin at [email protected]

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