The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
I would have thought the results are key to deals of which I believe will be next item to be relayed to the market.
“All of the large North American and Chinese Bitcoin mining and chip manufacturing companies with whom QBT has engaged, are waiting for the results of our live tests, in particular with Method A and B, using currently available commercial mining rigs, before we can move to the commercial stage As announced on 20 October 2023, we can confirm that Method A and B have been redesigned to be technically available as a SaaS client-server cloud application.”
Are they not in the final stages of porting as mentioned here?
the Company first needed to understand the architecture of the chip and how to best implement Methods A and B. The R&D team is testing different solutions for this final stage in delivering the product, however the exact date of delivery cannot be provided at this stage.
It mentions final stages in this paragraph, needs a bit more information here.
the Company first needed to understand the architecture of the chip and how to best implement Methods A and B. The R&D team is testing different solutions for this final stage in delivering the product, however the exact date of delivery cannot be provided at this stage.
Thanks for the reply Brewhaha.
I have looked at this a few times before but the update today seemed to show clear progress is being made and quite frankly I'm surprised by today's reaction in general but I guess that's how Aim market works.
In general I'm happy with my purchase today and will top up on weakness.
There are the normal extremities in posts I see today which bare zero resembleance to actual company position.
A very technical update on where the company lies but the next update I feel will be results from then live mining tests which sound to be in full swing.
Sorry for bring this up again but pawing over this, i tend to need to read a few times to be 100% accurate in my thinking.
The paragraphs below were what peaked my interest.
“All of the large North American and Chinese Bitcoin mining and chip manufacturing companies with whom QBT has engaged, are waiting for the results of our live tests, in particular with Method A and B, using currently available commercial mining rigs, before we can move to the commercial stage As announced on 20 October 2023, we can confirm that Method A and B have been redesigned to be technically available as a SaaS client-server cloud application.”
the Company first needed to understand the architecture of the chip and how to best implement Methods A and B. The R&D team is testing different solutions for this final stage in delivering the product, however the exact date of delivery cannot be provided at this stage.
In addition to the above, the development of Method B, as an extension to CGminer, a standard operating system used by almost all commercial mining rigs, has been particularly complex, given the intricacies of more than 50,000 lines of open-source C-code developed by the CGminer community. The key issues have been addressed and the Company is performing intensive live mining tests 24/7 using ASIC-based Bitcoin mining devices connected to two large mining pools.
Awaiting live results seems to be the gist of what is need, Final stage in delivering the product, SaaS seems to be ready to roll out.
Will there be an update on the 24/7 testing once complete? does anyone have thoughts on this as it seems like this could be soon.
This is the worry i have re funding
The Company is also reviewing its options to drill another well this year, following the commencement of the EWT. These options include the deepening of Tai-3 to test the Basement play or the drilling of an appraisal well at Itumbula. The outcome of this, as well as the planned EWT, is subject to securing the necessary long lead items required for such operations.
Thoughts on this. Final Stage.
The porting of Method A and Method B onto commercial rigs has proven to be very challenging. The R&D team is currently testing different solutions for the final stage in order to deliver a fully reliable product. An exact date for market roll-out cannot be provided at this stage.
Took a position this morning as this stood out to me as being close now
The key issues have been addressed and the Company is performing intensive live mining tests 24/7 using ASIC-based Bitcoin mining devices connected to two large mining pools.
“All of the large North American and Chinese Bitcoin mining and chip manufacturing companies with whom QBT has engaged, are waiting for the results of our live tests, in particular with Method A and B, using currently available commercial mining rigs, before we can move to the commercial stage As announced on 20 October 2023, we can confirm that Method A and B have been redesigned to be technically available as a SaaS client-server cloud application.”
Anyone have a view on timelines?