Quantum Blockchain Technologies unveils 'Method C' AI-driven bitcoin mining breakthrough
London, UK
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March 14, 2024 08:40 AM Eastern Daylight Time
Quantum Blockchain Technologies PLC (AIM:QBT) chairman and CEO Francesco Gardin discusses the company's game-changing ‘Method C' bitcoin mining technology, a novel approach leveraging machine learning and artificial intelligence oracle technology.
Method C, described as an AI-driven "Oracle," predicts the future of data processing, potentially reducing necessary computations by up to 30%, a significant innovation in Bitcoin mining efficiency and energy consumption. This advancement aligns with the company's goal of applying AI to enhance mining processes, a venture that has produced three distinct methods so far.
Gardin said QBT is at a crucial stage, moving from formula to functional product, facing challenges with third-party hardware integration. Method C's predictive performance and its potential for reducing SHA-256 computations position it as a transformative approach in mining, offering cost and energy savings.
The company plans to integrate Method C with a second patent application and prototype chips, including for GPUs and ASICs, to demonstrate viability to potential partners. Despite complexities in scaling and documentation, discussions with large mining rig manufacturers are advancing, focusing on demonstrating real mining performance enhancements.
Upcoming milestones include updates on the application of Method A and Method B to mining rigs and further developments with Method C, including live comparisons demonstrating its efficiency over conventional methods.
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