Quantum Blockchain Technologies PLC (AIM:QBT) in the first half of 2025 continued to strengthen its position as an innovator in bitcoin mining technology, the company highlighted in its interim results out today.
"Building on the achievements reported in and for 2024, the company continued to advance its research & development programme, file new patents and deepen its engagement with potential strategic commercial partners, especially in North America," chief executive Francesco Gardin said in a statement.
"These developments further reinforce QBT’s ambition to commercialise its disruptive technologies and secure a strong foothold in the Bitcoin mining ecosystem."
QBT is now in a position of growing strength. With live mining tests confirming the efficiency of its AI-driven methods, Gardin highlighted, adding that strategic collaborations are also underway with ASIC manufacturers.
"The board remains confident that all of QBT’s assets have the potential to transform the economics of Bitcoin mining by improving the performance of SHA-256, the core algorithm for Bitcoin mining," he added.
In terms of financials, the pre-revenue firm reported a total comprehensive loss of €1.5 million for the six months ended 30 June 2025, compared with a €1.3 million loss a year earlier. And, it ended the period with €1.7 million of cash.