QBT Raises £350k from New Share Issue to Drive Bitcoin Mining Tech
Quantum Blockchain Technologies (AIM:QBT) has successfully raised £350,000 in new funds through a placing of 140 million shares at 0.25p each.
The AIM-listed technology developer plans to use the proceeds to support further research and development of its proprietary Bitcoin mining technologies, including its Method C AI Oracle and related software products.
The company will also allocate funds towards preparing its recently granted US patent for ASIC Ultra Boost for commercial discussions with chip manufacturers. Additionally, Quantum Blockchain Technologies will conduct hardware and software integration work and business development with prospective industry partners.
According to Chief Executive Francesco Gardin, the additional working capital will help QBT progress its technologies towards market readiness, with a current focus on the AI Oracle and other software-based solutions while building relationships with potential commercial partners.