Quantum Block Share News (QBT)

(Alliance News) - Quantum Blockchain Technologies PLC shares surged on Wednesday as it launched a software-only version of its Method C AI Oracle.

The London-based investment company focused on bitcoin mining research & development said the version achieved an average improvement in bitcoin mining efficiency of over 10% during testing.

In response, shares in Quantum Blockchain Technologies jumped 19% to 0.78 pence on Wednesday afternoon in London.

Unlike the hardware version, the new software integrates directly with CGMiner and other control systems, reducing time to market and upfront costs, Quantum Blockchain Technologies said.

The company said the software can also work alongside the hardware version to deliver compound efficiency gains.

The firm said it is testing the technology with an unnamed US-based application-specific integrated circuit manufacturer and is in talks with others ahead of its participation at the Mining Disrupt conference in Dallas this week.

Chief Executive Officer Francesco Gardin said: "The last six months have been crucial for this major research & development achievement which has involved, among other things, the generation of a staggering amount of mining data for the training of the new AI model.

"We can confirm that US-based ASIC manufacturers are making enquiries with us about our technology, as it potentially offers a key competitive element to take their miners from 'hashing-rate' only performance, to quality hash generation."

By Michael Hennessey, Alliance News reporter

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