Quantum Blockchain Technologies PLC stated that as part of the Bitcoin mining research and development strategy, the company has signed a service agreement with a British international cryptographic expert who specializes in the optimization of the cryptocurrency mining blockchain. The AIM listed company stated that in Bitcoin mining, “tangible and destructive optimization” can be carried out to speed up execution and save energy. It is expected that the first set of optimizations will be tested in the next few weeks. Quantum also stated that this work aims to improve the efficiency of Bitcoin mining by reducing energy use and accelerating hashing. This will increase the likelihood of successful mining operations. In addition, the company intends to apply for any related intellectual property rights generated during the patent application process. At the same time, the group stated that the existing and upcoming mining optimizations are expected to be implemented on the commercial core in the next three months, on the field programmable gate array computer chip for six months, and finally in the second half of 2022—— Implemented on ASIC chip.
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