Quantum Blockchain Technologies PLC (AIM:QBT, FRA:BYA1), the cryptocurrency mining technology developer, says its US patent application for its ASIC Ultra Boost technology has received a "Final Rejection" from the United States Patent and Trademark Office (USPTO).
The USPTO examiner cited a combination of prior art documents, including a thesis by Rahul Naik, the inventor of ASIC Ultra Boost, a previously unconsidered US patent application, and a paper by Dr Nicolas Courtois, who supervised Naik during his studies at University College London.
A Final Rejection is a standard stage in the US patent examination process and does not necessarily end an application's prospects.
QBT said its attorneys believe the examiner's concerns centre on the breadth of the claims made in the application rather than any fundamental challenge to the novelty of the underlying technology, and that a viable path forward exists through narrowing the claim scope.
The company's US patent attorneys have scheduled an interview with the USPTO examiner for 20 April, with formal written submissions due by 19 June.
QBT said it is working with its attorneys on a response strategy that may include amended claims and additional technical arguments.