Member Info for mrhanji

Didn't FG say the patent will be filed Via EU route as opposed to the UK patent office ? another red herring thrown in from Brew as usual.

What's the chart saying? are we going back to 0.005 or we have support, bargain either way until we 100x from here which is inevitable.

Rns from 15th August explains in detail :

Business Developments

Over the past few months, the Company has continued its discussions with the major Bitcoin sector companies, which are mainly located in North America. These discussions have now reached a level where the Company is looking to provide live mining test demonstrations, as soon as any one of the Methods is available for real-time mining, as confirmed by recent meetings in the US at Mining Disrupt 2024 in Miami and Bitcoin 2024 in Nashville.

The Company believes the recent decision to migrate onto the ESP-miner operating system, running on ESP32-S3 Espressif MCU and using Bm1366 ASIC chips, is expected to achieve successful real-time mining testing of methods A, B and C.

Once this technical milestone has been completed, the Company expects to commence conversations with the small number of companies who have developed their own versions of the mining operating system, firmware and drivers, that operate the current crop of commercial mining rigs. The plan is to port QBT’s client version of its Methods to the miners’ proprietary software environments, providing access to a potential market of millions of currently operational mining rigs.

Francesco Gardin, CEO and Executive Chairman of Quantum Blockchain Technologies commented: “Most of the current and recent efforts of the Company are focused on the porting of the Methods on to commercial hardware mining platforms.

“The skill set for the porting projects is completely different from AI know-how used in the design and development of the three Methods by our R&D teams.

“A very experienced software engineer from Milan University joined the core software engineers’ group nine months ago, and we feel this group now has all the necessary skills to successfully undertake the porting task to a real-time Bitcoin mining environment.

“This complex technical step of the process is the precondition for deploying QBT’s technology and entering into pragmatic partnership and commercial discussions with the major players of the sector, all of whom are very aware of QBT’s technology and all of whom are just waiting for real-time.

“The decision to switch to the ESP-miner operating system, running on ESP32-S3 Espressif MCU and using Bm1366 ASIC chips, will definitely accelerate moving in this direction.”

Method B

The porting of Method B will continue using the new ESP-miner software platform, making the control of the BM1366 chips easier, more efficient, stable and reliable.

In parallel to this, a new tool has been developed by QBT for real-time mining testing which will bypass CGminer and any other mining operating systems, reducing potential errors introduced by the complexity of this mining operating system. This tool is likely to be ported directly onto the ESP32-S3 Espressif MCU.

In addition to the porting activity, a new major alternative performance improvement technique has been developed, based on solid mathematical theory, which has been tested off-line in the laboratory, with consistent positive results. Once the ESP-miner porting has been completed, this new version of Method B will undergo real-time mining testing.

My take is when they said products were available 12 months they have already or very close to signing a large miner or 2 subject to real world testing. Just the real world testing has taken longer then expected. FG Has said in an interview he expects revenue by end of 2024 , I think its in an rns too and also recently when they were in miami or something re-iterated they haven't announces the opposite.. so let's see what December brings. Everything appears to be on "track" as per the last interview.. I would agree tho now is probably the right time given 2025 is expected for all crypto to take off..

Thanks notready1

91k bought vs 7.8k sells today …. hmm what's keeping the SP down ? or im missing something and that's how it works. Surely must be a lot higher ?

Well its been just over 2 months since Mr. Jose Rios was brought on board as Strategic Adviser. I think were close to another update - hopefully the news we need to send this flying for christmas and then some more through out 2025 ill be honest if we dont get news then ill be disappointed.. now is the best time then ever , given the bitcoin bull run is just taking off.

1.20 looks like its resistance.. Once through we should reach another level.

Chartist will probably know better.. ..

Just profit taking has happened many times.

Lol does anyone remember John storey , what would happen If another large investor wanted to purchase 100 million options at 5p or 10p would this move the share price to 5 or 10p.. if they exercised the option as he did..

What is for certain there's 3 different potential revenues incoming, which one will be first.. method b revenue by end of year possibly?

GSA looks like they packed up and left at the right time lol

Fg looks very confident in the interview, in the right direction with method a &b it seems no immediate concerns.

Jose onboard to accelerate deals..

🚀 🚀

Hmm yeh now is not really the time to short qbt.

Closure of shorts is signal this is getting ready to go to the moon.

Ignore the fud aka brew. Next update is key once fg and team confirm real-time testing is all good then the big miners will open their doors to their mining facilities and wallets. As per interview that's all that is needed. We don't need to know the specifics that's the job of the experts at work. As per last rns they think they have resolved this so no more porting issues. Next is large scale testing in partnership with a bitcoin miner which possibly means replacing cg miner with esp miner or as fg says they have Leverage to negotiate with third party's the likes of braiins or whoever. Either way fg doesn't look like a man panicking.. and open to different options.

Https://github.com/skot/bitaxe

It says here esp miner firmwsre is adapted to work with BM1366 the bitmain chips referred to in rns.

" The ESP-Miner firmware used for the BM1397-based bitaxe has been adapted for the BM1366 and the current main branch can support both"

FG mentions in the interview the large bitcoin miners they are speaking to just want to see real time mining , so if the small scale real time testing with ESP miner is a success then the larger scale testing will be in partnership with LArge bitcoin miner. So this will be installing ESP miner on thousands of machines..the large miner would let QBT use.. or engage with likes of Braiins to Install on CG miner however given the RNS and Interview i dont think they will engage with a third party like braiins just yet.. (Brew haha will disagree.) as FG mentions in the interview they dont want to enter into a agreement with third partys .. probably because they want to be in a position they can negotiate better terms. so its probably more plausible they will engage the likes of Braiins after they done the testing on a large enough scale with a leading Bitcoin miner..

so i think they can achieve there short term goal as per RNS if no more issues.. "The short-term strategic goal is to achieve real-time bitcoin mining via one, or more, of the existing Bitcoin mining pools, through a collaboration or in partnership with a leading Bitcoin miner."

Next update which is half year results this month is key . Provided no issues with ESP miner they can move forward with large scale testing with a bitcoin miner. but everything will have to run smoothly for revenue by December.. so no further issues with the real time testing. Based on some background reading it does seem testing is the phase that can take a few years.. what follows such as scaling and commercialisations is typically alot shorter even a couple of months.

Okay brew maybe read the rns again they literally stated there short term goal is real time testing and collaboration with miner so your timelines don't make any sense at all I would say just one big confused post like many of your others..

"The short-term strategic goal is to achieve real-time bitcoin mining via one, or more, of the existing Bitcoin mining pools, through a collaboration or in partnership with a leading Bitcoin miner."

Regarding the large sells this is possibly to with larger investors selling before the tax rises in October.. so if its not in a ISA then CGT could be painful as labour brining it in line with income tax rates.. so potentially 45% for high income earners etc. So alot landlords are selling.. and also.investors with large number of shares not protected by a tax wrapper such as ISA..

Just difference of opinion Brew- I will stick with my interpretation as its based on the RNS.

RNS being an official communication from QBT, FG & QBT is responsible for ensuring that the information they provide is accurate and reflects their current capabilities and plans. Unlike unverified online sources and quick google searches, RNS announcements are legally binding and offer the most reliable insight into a company's activities and progress.

So while online sources may suggest that ESP-miner is associated with Bitaxe, the RNS indicates that QBT has either customised the system or is confident that it can work with the BM1366 ASIC chips for their specific needs.

So Therefore I stick by my original post.

The RNS is quite simple and maybe better explained by the interview. If anything its a hold or buy.

1. Real time testing connected to a mining pool using the ESP miner. Continuation of their previous efforts with CGMiner, as mentioned in the March RNS. However, CGMiner had legacy issues that hindered progress, leading QBT to switch to ESP-miner which is more streamlined and better suited for their AI methods.

2. Once real-time testing is successful as per step 1, the next step involves large-scale testing in collaboration with a Bitcoin miner using their facilities. This would still be connected to a mining pool but on a much larger scale, offering greater potential for Bitcoin mining.

***Note: Step 1 might yield some revenue - Step 2 holds greater potential for generating meaningful revenue as it involves a larger scale – I am assuming here- this is what FG means when they say revenue will be generated by Dec-24 at minimum Step 1 & 2 complete.. however******

3. Following successful large-scale testing QBT plans to engage with companies that have developed their own mining operating systems (such as Braiins). The goal here is to port QBT’s client version of its Methods to these proprietary environments, unlocking access to millions of operational mining rigs and potentially leading to substantial revenue.

**Note here they mention “Client version” so this would be post large scale testing as per Step 2 ** this would be significant amount of revenue given access to millions of rigs.

But I guess the real question is can they do Step 3 also by December-24..

Next update in September-24 is Key, wouldn’t put it past them given current RNS emphasises confidence in switching to ESP-miner and no issues expected.