Quantum Blockchain Technologies PLC (AIM:QBT, FRA:BYA1) has restarted its quantum computing research programme for Bitcoin mining, reviving work that was paused in late 2023 because available quantum computers lacked enough qubits to run its quantum version of SHA-256.
The AIM-listed blockchain technology investor said the same Milan University team chosen for the original project will continue on the resumed programme, allowing QBT to build directly on earlier work.
QBT said it has developed an internal quantum implementation of the SHA-256 algorithm, the cryptographic hashing function used in Bitcoin mining.
The company described this as a key proprietary asset that will be used in its independent benchmarking framework. It is designed to help QBT monitor quantum hardware development, assess relevant quantum algorithms and compare performance across emerging quantum computing platforms.
Chief executive and executive chairman Francesco Gardin said the company already has “a strong foundation for benchmarking and future development”, while noting that quantum computing is “not yet ready for practical deployment in Bitcoin mining”.