QBT Secures £350k to Advance Proprietary Bitcoin Mining Tech

Quantum Blockchain Technologies PLC (AIM:QBT, FRA:BYA1) has secured £350,000 in new funding to advance its proprietary Bitcoin mining technologies. The AIM-listed developer raised the funds through a placing of 140 million new shares at 0.25p each.

The company will use the proceeds to support further research and development of its Method C AI Oracle and related software products. Additionally, it will prepare its recently granted US patent for ASIC Ultra Boost for commercial discussions with chip manufacturers and conduct hardware and software integration work.

Chief executive Francesco Gardin said the additional working capital would help QBT progress its technologies towards market readiness. The current focus is on advancing the AI Oracle and other software-based solutions, while building relationships with potential commercial partners.