Quantum Blockchain Technologies PLC (AIM:QBT) has updated investors on its research and development progress, ahead of an industry showcase in Miami later this month.
Following recent breakthroughs with its ‘Method C’ technology, the firm told investors that it has improved ‘Method B’ as it has now been tested in real-time using different ASIC chips.
It anticipates that a newly acquired BM1370 chip, used in top mining machines, could further boost performance.
Meanwhile, ‘Method A’ is also being tested in the lab to measure its mining efficiency, it added.
QBT has three patents in progress, with another quantum computing-related patent expected soon.
“After nearly four years of R&D, we have managed to prove that our technology can predict and to some extent, control, SHA-256 in its version for Bitcoin mining. The outcome of this work is the production of three disruptive Bitcoin products, namely the three AI Methods,” chief executive Francesco Gardin said in a statement.
"As previously reported, we are in a position to make live demonstrations connected to Bitcoin pools for Method A and Method C, and it is the company's intention to make the first of these demonstrations at the Bitcoin `Mining Disrupt' conference in Miami (Fort Lauderdale) occurring between March 25-27, 2025.”
QBT also plans to attend Mining Disrupt, part of the 2025 Bitcoin event in Las Vegas in late May, where it expects to showcase the technology to potential clients.
Also today, with a legal update, QBT said in its Clear Leisure 2017 Ltd legacy subsidiary’s legal case in Italy, defendants are appealing a previous ruling. It noted that the process could take at least three years, but the company can still pursue enforcement actions in the meantime.
The company also noted other minor developments in it legacy, minority-owned interests.