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0.365 0.015 (4.29%)

Bid:

0.35

Ask:

0.38

Spread: 0.03 (8.571%)

Market Cap: £5.87m

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IN BRIEF: Quantum Blockchain shares skyrocket on AI "breakthrough"

Fri, 17th Jan 2025 11:27

Quantum Blockchain Technologies PLC - blockchain sector-focused investor - Announces a "breakthrough achievement" for Method C AI Oracle, its predictive Bitcoin artificial intelligence model mining tool. The tool is now performing live Bitcoin mining of current blockchain blocks, Quantum says, in a "significant milestone" which gives the company a "material competitive advantage". Chief Executive Officer & Executive Chair Francesco Gardin comments: "Following almost three years of research & development efforts, the AI team working on Method C has delivered its first irrefutable result, with a new version of Method C AI Oracle, which can now be used to mine the current blockchain blocks in real-time with an approximate 30% improved performance...We believe this has the potential to be a major breakthrough for the entire Bitcoin mining industry, as QBT has developed an AI Oracle which can either reduce the energy cost of mining or increase the speed of mining at current energy costs, by approximately 30%, which it can prove through live demonstrations."

Current stock price: 1.75 pence each on Friday morning, up from 0.68p at Thursday's close

12-month change: up 33%

By Tom Budszus, Alliance News slot editor

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