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PART 2 OF 3

Host: You've also reported a 10% improvement in mining efficiency in lab tests; what does that mean in real-world terms for bitcoin miners and potential partners?

Gardin: Yup, that means that, errr *clears throat* , we modify the CGMiner or ESPMiner or, I mean the operating system of the mining rigs and ahhh *clears throat* we, ahhh, basically improve what we call the "quality hashing". I mean everybody's talking about "hashing speed, hashing speed". Fine, this is very important. But, ahh, there is also, er, a more *laughs* detail [sic] and sophisticated way to analyse the performance of the miner, which is "quality hashes". How good, how many good hashes which are above a certain level of difficulty we can generate. And that's exactly what we do. So by installing this, the energy required is the same, ahhh, because it's something which goes on at the level of the control board, ahh, but the number of "quality hashes", err, meaning, with difficulty above 10, which is the usual difficulty set by, by pools, ahhh, is, is higher. So, same amount of energy, same machine, different operating system with our Oracle, more, ah, "quality hashes" generated. It's a very simple, err, I mean I describe it as simple now, it's been 10 months of hell, err, because, err, we have generated *cough* incredible amounts of data, so far, so much so that, uh, our peta-hash machine had to be, err, err, repaired because it were working too much 24-7. But now we, we have this, and, err, we have ahhh, ahhh, ummmmm, f-f-f-finally, I mean we had to hire a specialist in, on, for this. We are now in control of one of the old, errr, errr, bitcoin, *cough* Bitmain miners, errr, and so we are implented it [sic], errr, err, on this machine, which is not of course, errr, is an S9, so is not a competitive machine nowdays, but err, it's very *swallows*, I mean, it's very *clears throat* good to prove, errr, the, errr *clears throat* the, errr, quality of our Oracle, *coughs* to our clients, and now all the ASIC manufacturers, errr, in the US that we're talking to, errr, our precondition to, errr, ummm, *cough* start the, the real test, uh, errr, which are the, errr, *coughs*, are essential to enter into commercial agreement [sic] is give us a machine, your machine, with this, with the open software, or the operating system, we will modify and will show you how better is the machine with, uhhh, our Oracle, and so far none of them, ahhh, has said no because they understand that we are not prepared to share the information on our Oracle, which is, I mean, errr, years of, of work altogether, and, uhh, that's, ahhh, what we're doing right now, and, which is why we're here in, in Dallas talking directly to these miners, I've been meetings [sic] with these miners to convince them, and they have no problem to send out their machine as soon as possible, we modify, and show the better performance.

[continued on PART 3...]

This thread contains a transcript of Gardin's interview with Proactive on 14 Nov 2025. I produced the transcript myself - it is my own work and has not copied from anywhere.

The original video link is https://www.youtube.com/watch?v=Kqdl-Y8TkgE

The entire transcript is too long for one post, so it has been posted in 3 posts.

The transcript includes Gardin's disfluencies to more closely reflect the aural quality of the interview.

The interview proper begins at around 0:30. The first 30 seconds of the YouTube video are repeated at around 2:54.

Copyright law allows for Fair Use for: critical analysis or enhancing commentary or discussion; where the original video is factual; my derivation does not affect the market of the original video; clear attribution has been provided to the original video.

====================

PART 1 OF 3

Host: Hello, you're watching Proactive. I'm joined by Quantum Blockchain Technologies CEO Francesco Gardin. Francesco, very good to speak with you. This new software-only version of Method C marks a big step forward for QBT. How does it change your commercial roadmap compared with the original hardware version?

Gardin: Ahh, good afternoon, Stephen. Ahhh, yes, errr, definitely, ermm, it was ahh really hard work, ahh, to try to derive a version of the method that, which would not depend on an [sic] hardware implementation. We knew that providing less information to the engine creating the Oracle will lead to, ahh, ummm, results which, ahhh, wouldn't be as good as the, ahh, hardware version. However, this would, this puts us in a situation, errr, in a position where we can actually implement it on the operating system of the miners, ahh, which means that instead of the usual 18-month cycle from the decision of having the method implemented on the ASIC by an ASIC manufacturers [sic], ahhh, to when the actual ASIC is out and is installed on the m-miners, err, err, and the mining rigs, errr, we can, err, actually modify the operating system and, errr, add it to the operating system, errr, which means that the time to market, err, err, is err, err, months *cough* rather than a year and a half. Err, and in fact we're going down this path very, very quickly.

[continued on PART 2...]

Actual transcript of Gardin's words:

"𝘞𝘪𝘵𝘩 𝘵𝘩𝘪𝘴 𝘷𝘦𝘳𝘴𝘪𝘰𝘯 𝘰𝘧 𝘖𝘳𝘢𝘤𝘭𝘦 𝘊 𝘪𝘵 𝘵𝘢𝘬𝘦𝘴 𝘶𝘴, 𝘢𝘩, 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘵𝘪𝘮𝘦 𝘸𝘦 𝘳𝘦𝘤𝘦𝘪𝘷𝘦 𝘢 𝘮𝘢𝘤𝘩𝘪𝘯𝘦 𝘵𝘰 𝘸𝘩𝘦𝘯 𝘵𝘩𝘦 𝘖𝘳𝘢𝘤𝘭𝘦 𝘸𝘪𝘭𝘭 𝘣𝘦 𝘪𝘮𝘱𝘭𝘦𝘮𝘦𝘯𝘵𝘦𝘥 𝘰𝘯 𝘵𝘩𝘢𝘵 𝘱𝘢𝘳𝘵𝘪𝘤𝘶𝘭𝘢𝘳 𝘷𝘦𝘳𝘴𝘪𝘰𝘯, 𝘶𝘴𝘶𝘢𝘭𝘭𝘺 𝘊𝘎𝘔𝘪𝘯𝘦𝘳, 𝘵𝘩𝘦𝘺 𝘩𝘢𝘷𝘦 𝘢𝘭𝘭 𝘥𝘪𝘧𝘧𝘦𝘳𝘦𝘯𝘵 𝘧𝘭𝘢𝘷𝘰𝘶𝘳𝘴 𝘰𝘧 𝘊𝘎𝘔𝘪𝘯𝘦𝘳, 𝘪𝘴 𝘣𝘦𝘵𝘸𝘦𝘦𝘯 4 𝘢𝘯𝘥 6 𝘸𝘦𝘦𝘬𝘴, 𝘢𝘯𝘥 𝘵𝘩𝘢𝘵'𝘴 𝘸𝘩𝘦𝘯 𝘸𝘦 𝘣𝘦𝘭𝘪𝘦𝘷𝘦 𝘵𝘩𝘢𝘵 𝘸𝘦'𝘭𝘭 𝘣𝘦 𝘪𝘯 𝘢 𝘱𝘰𝘴𝘪𝘵𝘪𝘰𝘯 𝘵𝘰 𝘴𝘢𝘺 𝘰𝘬, 𝘯𝘰𝘸 𝘺𝘰𝘶, 𝘸𝘦 𝘵𝘢𝘬𝘦 𝘣𝘢𝘤𝘬 𝘵𝘩𝘦 𝘮𝘢𝘤𝘩𝘪𝘯𝘦 𝘵𝘰 𝘵𝘩𝘦𝘮 𝘪𝘯 𝘵𝘩𝘦𝘪𝘳 𝘭𝘢𝘣 𝘢𝘯𝘥 𝘸𝘦 𝘴𝘢𝘺 𝘰𝘬 𝘯𝘰𝘸 𝘵𝘦𝘴𝘵 𝘵𝘩𝘦 𝘱𝘦𝘳𝘧𝘰𝘳𝘮𝘢𝘯𝘤𝘦. 𝘢𝘩, 𝘰𝘧 𝘺𝘰𝘶𝘳 𝘮𝘢𝘤𝘩𝘪𝘯𝘦 𝘸𝘪𝘵𝘩 𝘢𝘯𝘥 𝘸𝘪𝘵𝘩𝘰𝘶𝘵 𝘰𝘶𝘳 𝘖𝘳𝘢𝘤𝘭𝘦, 𝘢𝘯𝘥, 𝘶𝘩, 𝘵𝘩𝘢𝘵'𝘴 𝘵𝘩𝘦, 𝘢𝘩, 𝘢𝘩, 𝘢 𝘬𝘦𝘺 𝘥𝘦𝘤𝘪𝘴𝘪𝘰𝘯 𝘮𝘰𝘮𝘦𝘯𝘵 𝘧𝘰𝘳 𝘵𝘩𝘦𝘴𝘦 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴 𝘸𝘩𝘰 𝘢𝘳𝘦 𝘢𝘭𝘭 𝘴𝘵𝘳𝘶𝘨𝘨𝘭𝘪𝘯𝘨 𝘵𝘰 𝘤𝘢𝘵𝘤𝘩 𝘶𝘱 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘮𝘢𝘪𝘯, 𝘸𝘦, 𝘵𝘩𝘦 𝘮𝘢𝘪𝘯, 𝘦𝘳, 𝘸𝘪𝘵𝘫 𝘵𝘩𝘦 𝘮𝘰𝘯𝘰𝘱𝘰𝘭𝘪𝘴𝘵 𝘰𝘧 𝘵𝘩𝘦 𝘮𝘢𝘳𝘬𝘦𝘵 𝘸𝘩𝘪𝘤𝘩 𝘪𝘴, 𝘦𝘳, 𝘉𝘪𝘵𝘮𝘢𝘪𝘯 𝘴𝘰 𝘢𝘯𝘺 𝘤𝘩𝘢𝘯𝘤𝘦 𝘵𝘩𝘦𝘺 𝘩𝘢𝘷𝘦 𝘵𝘰 𝘤𝘢𝘵𝘤𝘩 𝘶𝘱 𝘸𝘪𝘵𝘩 𝘵𝘩𝘪𝘴, 𝘦𝘳, 𝘢𝘩𝘩𝘩𝘩𝘩 𝘵𝘪𝘮𝘦 𝘭𝘢𝘨. 𝘦𝘳𝘳, 𝘸𝘩𝘪𝘤𝘩 𝘪𝘴, 𝘦𝘳, 1 𝘵𝘰 2 𝘺𝘦𝘢𝘳𝘴 𝘪𝘴 𝘧𝘰𝘳 𝘵𝘩𝘦𝘮 𝘷𝘪𝘵𝘢𝘭."

"𝘞𝘪𝘵𝘩 𝘪𝘮𝘱𝘭𝘦𝘮𝘦𝘯𝘵𝘢𝘵𝘪𝘰𝘯 𝘵𝘪𝘮𝘦𝘭𝘪𝘯𝘦𝘴 𝘰𝘧 4–6 𝘸𝘦𝘦𝘬𝘴 𝘰𝘯𝘤𝘦 𝘢 𝘮𝘢𝘤𝘩𝘪𝘯𝘦 𝘪𝘴 𝘳𝘦𝘤𝘦𝘪𝘷𝘦𝘥, 𝘎𝘢𝘳𝘥𝘪𝘯 𝘩𝘪𝘨𝘩𝘭𝘪𝘨𝘩𝘵𝘦𝘥 𝘵𝘩𝘢𝘵 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴 𝘭𝘢𝘨𝘨𝘪𝘯𝘨 𝘣𝘦𝘩𝘪𝘯𝘥 𝘮𝘢𝘳𝘬𝘦𝘵 𝘭𝘦𝘢𝘥𝘦𝘳 𝘉𝘪𝘵𝘮𝘢𝘪𝘯 𝘷𝘪𝘦𝘸 𝘖𝘳𝘢𝘤𝘭𝘦 𝘢𝘴 𝘢 𝘱𝘰𝘵𝘦𝘯𝘵𝘪𝘢𝘭 𝘰𝘱𝘱𝘰𝘳𝘵𝘶𝘯𝘪𝘵𝘺 𝘵𝘰 𝘤𝘭𝘰𝘴𝘦 𝘵𝘩𝘦 𝘤𝘰𝘮𝘱𝘦𝘵𝘪𝘵𝘪𝘷𝘦 𝘨𝘢𝘱."

Actual transcript of Gardin's words:

"𝘞𝘪𝘵𝘩 𝘵𝘩𝘪𝘴 𝘷𝘦𝘳𝘴𝘪𝘰𝘯 𝘰𝘧 𝘖𝘳𝘢𝘤𝘭𝘦 𝘊 𝘪𝘵 𝘵𝘢𝘬𝘦𝘴 𝘶𝘴, 𝘢𝘩, 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘵𝘪𝘮𝘦 𝘸𝘦 𝘳𝘦𝘤𝘦𝘪𝘷𝘦 𝘢 𝘮𝘢𝘤𝘩𝘪𝘯𝘦 𝘵𝘰 𝘸𝘩𝘦𝘯 𝘵𝘩𝘦 𝘖𝘳𝘢𝘤𝘭𝘦 𝘸𝘪𝘭𝘭 𝘣𝘦 𝘪𝘮𝘱𝘭𝘦𝘮𝘦𝘯𝘵𝘦𝘥 𝘰𝘯 𝘵𝘩𝘢𝘵 𝘱𝘢𝘳𝘵𝘪𝘤𝘶𝘭𝘢𝘳 𝘷𝘦𝘳𝘴𝘪𝘰𝘯, 𝘶𝘴𝘶𝘢𝘭𝘭𝘺 𝘊𝘎𝘔𝘪𝘯𝘦𝘳, 𝘵𝘩𝘦𝘺 𝘩𝘢𝘷𝘦 𝘢𝘭𝘭 𝘥𝘪𝘧𝘧𝘦𝘳𝘦𝘯𝘵 𝘧𝘭𝘢𝘷𝘰𝘶𝘳𝘴 𝘰𝘧 𝘊𝘎𝘔𝘪𝘯𝘦𝘳, 𝘪𝘴 𝘣𝘦𝘵𝘸𝘦𝘦𝘯 4 𝘢𝘯𝘥 6 𝘸𝘦𝘦𝘬𝘴, 𝘢𝘯𝘥 𝘵𝘩𝘢𝘵'𝘴 𝘸𝘩𝘦𝘯 𝘸𝘦 𝘣𝘦𝘭𝘪𝘦𝘷𝘦 𝘵𝘩𝘢𝘵 𝘸𝘦'𝘭𝘭 𝘣𝘦 𝘪𝘯 𝘢 𝘱𝘰𝘴𝘪𝘵𝘪𝘰𝘯 𝘵𝘰 𝘴𝘢𝘺 𝘰𝘬, 𝘯𝘰𝘸 𝘺𝘰𝘶, 𝘸𝘦 𝘵𝘢𝘬𝘦 𝘣𝘢𝘤𝘬 𝘵𝘩𝘦 𝘮𝘢𝘤𝘩𝘪𝘯𝘦 𝘵𝘰 𝘵𝘩𝘦𝘮 𝘪𝘯 𝘵𝘩𝘦𝘪𝘳 𝘭𝘢𝘣 𝘢𝘯𝘥 𝘸𝘦 𝘴𝘢𝘺 𝘰𝘬 𝘯𝘰𝘸 𝘵𝘦𝘴𝘵 𝘵𝘩𝘦 𝘱𝘦𝘳𝘧𝘰𝘳𝘮𝘢𝘯𝘤𝘦. 𝘢𝘩, 𝘰𝘧 𝘺𝘰𝘶𝘳 𝘮𝘢𝘤𝘩𝘪𝘯𝘦 𝘸𝘪𝘵𝘩 𝘢𝘯𝘥 𝘸𝘪𝘵𝘩𝘰𝘶𝘵 𝘰𝘶𝘳 𝘖𝘳𝘢𝘤𝘭𝘦, 𝘢𝘯𝘥, 𝘶𝘩, 𝘵𝘩𝘢𝘵'𝘴 𝘵𝘩𝘦, 𝘢𝘩, 𝘢𝘩, 𝘢 𝘬𝘦𝘺 𝘥𝘦𝘤𝘪𝘴𝘪𝘰𝘯 𝘮𝘰𝘮𝘦𝘯𝘵 𝘧𝘰𝘳 𝘵𝘩𝘦𝘴𝘦 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴 𝘸𝘩𝘰 𝘢𝘳𝘦 𝘢𝘭𝘭 𝘴𝘵𝘳𝘶𝘨𝘨𝘭𝘪𝘯𝘨 𝘵𝘰 𝘤𝘢𝘵𝘤𝘩 𝘶𝘱 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘮𝘢𝘪𝘯, 𝘸𝘦, 𝘵𝘩𝘦 𝘮𝘢𝘪𝘯, 𝘦𝘳, 𝘸𝘪𝘵𝘫 𝘵𝘩𝘦 𝘮𝘰𝘯𝘰𝘱𝘰𝘭𝘪𝘴𝘵 𝘰𝘧 𝘵𝘩𝘦 𝘮𝘢𝘳𝘬𝘦𝘵 𝘸𝘩𝘪𝘤𝘩 𝘪𝘴, 𝘦𝘳, 𝘉𝘪𝘵𝘮𝘢𝘪𝘯 𝘴𝘰 𝘢𝘯𝘺 𝘤𝘩𝘢𝘯𝘤𝘦 𝘵𝘩𝘦𝘺 𝘩𝘢𝘷𝘦 𝘵𝘰 𝘤𝘢𝘵

REMOVE ADS

Recent Large Trades over 1 Million. Part 2

On the 23rd of January 2025 there was a PRN @ 7am about the Placing of 173,913,044 shares @ 1.15p. Note FG did not attach any Warrants to the Placing shares. (I don’t think anyone commented about this)

Our share price closed on the 16th January 2025 at £0.0065p - £0.008p and on the 17th January 2025 we had our PRN about Bitcoin Mining – Method C Update and our share price began to rise and on the day it closed @ 1.6p – 1.65p for a rise of about 124%

It is only natural that on the day of the announcement of the Placing there would be some shareholders who would Bank some profits and some who may top-slice (I did not do either)

So, on the following large Trades some will be Banking Profits and or Top-Slicing. (But not all)

29,000,000 @ 1.21p 23/01/25 @ 16:32 £350,900

2,500,000 @ 1.2p 23/01/25 @ 11:56am £30,000

2,500,000 @ 1.2p 23/01/25 @ 8:34am £30,000

1,253,223 @ 1.2175p 23/01/25 @ 8:24am £15,289

1,240,286 @ 1.21p 23/01/25 @ 8:20am £15,007

2,469,749 @ 1.215p 23/01/25 @ 8:18am £30,131

2,429,163 @ 1.2353 23/01/25 @ 8:18am £30,122

2,500,000 @ 1.25p 23/01/25 @ 8:16am £31,250

2,000,000 @ 1.2p 23/01/25 @ 8:06am £24,000

1,717,878 @ 1.1815p 23/01/25 @ 8:04am £20,271

2,000,000 @ 1.19p 23/01/25 @ 8:03am £23,800

1,820,162 @ 1.6995p 22/01/25 @ 13:08 £30,943

1,224,266 @ 1.7p 22/01/24 @ 12:44 £20,813

1,100,204 @ 1.74p 21/01/25 @ 16:17 £19,144

1,301,243 @ 1.43p 21/01/25 @ 13:53 £18,608

2,000,000 @ 1.5209p 21/01/25 @ 12:48 £30,400

1,213,334 @ 1.58p 21/01/25 @ 12:43 £19,171

2,913,983 @ 1.65p 21/01/25 @ 8:17am £48,081

1,209,162 @ 1.8p 21/01/25 @ 8:06am £21,765

1,314,434 @ 1.85p 21/01/25 @ 8:03am £24,317

1,628,757 @ 1.91p 20/01/25 @ 16:03 £31,109

1,588,767 @ 1.825p 20/01/25 @ 15:07 £28,916

1,034,980 @ 2.0283p 20/01/25 @ 13:54 £21,010

2,000,000 @ 2.125p 20/01/25 @ 13:02 £42,600

1,500,000 @ 2.182p 20/01/25 @ 10:34am £32,700

1,750,000 @ 2.025p 20/01/25 @ 9:30am £35,350

2,000,000 @ 2.0089 20/01/25 @ 9:17am £40,200

1,086,658 @ 1.84p 20/01/25 @ 8:06am £19,995

RKB