Quantum Blockchain releases software version of bitcoin mining tool

Quantum Blockchain Technologies PLC made a significant announcement by introducing a software-based version of its Method C AI Oracle, which is intended to enhance bitcoin mining operations. This London-headquartered investment company, with a primary focus on bitcoin mining research and development, reported that the new software version exhibited a remarkable efficiency boost of over 10% during rigorous testing.

Following this revelation, shares of Quantum Blockchain Technologies experienced a notable upsurge, climbing 19% to 0.78 pence in London on Wednesday afternoon. This unveiling marks a significant development, especially considering the positive reception from investors in response to the innovative software-only approach.

Unlike its hardware counterpart, the new software seamlessly integrates with the CGMiner and other control systems, thereby mitigating time-to-market constraints and upfront costs. Moreover, the company emphasized that the software iteration is designed to synergize harmoniously with the hardware component, resulting in cumulative efficiency enhancements.

Moreover, the firm revealed ongoing collaboration with a well-reputed, yet unnamed, US-based application-specific integrated circuit manufacturer to test the new technology. Concurrently, Quantum Blockchain Technologies is engaging in discussions with other industry players in anticipation of its participation in the upcoming Mining Disrupt conference scheduled to take place in Dallas.

In a statement, Chief Executive Officer Francesco Gardin highlighted the intensive research and development efforts invested in this project over the past six months. This endeavor involved the meticulous curation of copious amounts of mining data to calibrate the new AI model effectively. Gardin echoed optimism about the considerable interest shown by US-based ASIC manufacturers in the novel technology. He underscored that this software alternative could potentially offer a distinct competitive edge by elevating miners beyond ‘hashing-rate’ performance to generate high-quality hashes.

Quantum Blockchain Technologies’ foray into software solutions not only demonstrates a strategic diversification of its portfolio but also reflects a commitment to innovation within the bitcoin mining sphere. With its focus on enhancing efficiencies and fostering technological advancements, Quantum Blockchain Technologies is poised to drive future growth and redefine industry standards.

In conclusion, Quantum Blockchain Technologies’ successful launch of the software-only version of its Method C AI Oracle stands as a testament to its commitment to pioneering technological breakthroughs in the bitcoin mining sector. This achievement not only underscores the company’s innovative prowess but also positions it as a key player in shaping the future of blockchain technology in the financial landscape.