QBT Secures Patent Approval for Bitcoin Mining Efficiency Boost

Quantum Blockchain Technologies PLC (AIM:QBT, FRA:BYA1) has achieved a significant milestone in its efforts to improve Bitcoin mining efficiency. The company has received formal approval from the US Patent and Trademark Office for its patent application 'Message Scheduling for Cryptographic Hashing', which underpins QBT's ASIC Ultra Boost technology.

The invention is designed to eliminate redundant calculations from the SHA256 message-scheduling process used in Bitcoin mining, potentially leading to improved efficiency and reduced energy consumption. However, management cautioned that there was no certainty over timing, structure or near-term revenue for the patent.

QBT plans to explore licensing and commercial arrangements with established ASIC manufacturers and is seeking semiconductor-sector advisers to support the monetisation process. This move could provide a new source of income for the company, although the exact details remain uncertain.