QBT Brings AI Bitcoin Mining Tech into Live Testing with ASIC Manufacturer Backing
Quantum Blockchain Technologies (QBT) has announced that its AI-driven Bitcoin mining technology is now in live testing, after being validated in a laboratory setting. This move marks a significant step forward for QBT's Method C AI Oracle and ASIC UltraBoost intellectual property.
The company has been working closely with an unnamed ASIC manufacturer to develop its AI Oracles, which have shown a consistent advantage over traditional mining methods during live testing. In fact, the first AI Oracles were developed in July using data generated directly from the manufacturer's hardware.
QBT has also made progress on its quantum computing research, resuming work after a pause since 2023. The company is developing an internal quantum implementation of SHA-256 and has begun recruiting industry specialists to support licensing discussions with ASIC manufacturers.
The company reported a loss of €1.15 million for the first half of the year, but improved from €1.54 million in the same period last year. Cash and cash equivalents stood at approximately €11,000 at June 30, leaving QBT dependent on further financing to continue its operations.