RNS22 Sep 2021 08:12
Wow -
The initial findings of the new R&D work have been very encouraging, with a 9.56% speed improvement already achieved as compared to the standard Bitcoin mining algorithm on the same type of machine. The Company is currently investigating other optimisations for Bitcoin mining, based on its innovative approach (people and technology), which it believes will deliver further and radical speed improvements which the Company is planning to file under an international patent.
In the early stages of the AI Deep-Learning tests to optimise the Bitcoin mining algorithm, QBT’s AI system autonomously generated one of the already existing optimisation provided to the Company by its expert. This first result strongly supports the AI Deep Learning strategy adopted by the Company.
The Company has also started to implement the first set of optimisations on FPGA, expecting early completed versions of the FPGA to be ready by the end of October 2021, while the optimisations covered by the above-mentioned patent are due by December 2021. ASIC development work is expected to start in parallel in October 2021.
Based on the performance achieved by the FPGA chip, it may be decided to use it as the Company’s first mining engine.
QBT’s Quantum Computing team has now started working on the D-wave Quantum computer, programming the quantum processor, whilst the Company completed the design of the new IT infrastructure. This new infrastructure includes a 128 core Machine Learning workstation and an initial one Petabyte memory expandable unit, in order to host the proprietary enriched Bitcoin mining “BTC Large Big Data”.