REG-Quantum Blockchain Technologies Plc: Business Update - In-House R&D

Quantum Blockchain TechnologiesAnnouncement

02/06/2021 07:05

2 June 2021

Quantum Blockchain Technologies Plc
(“QBT” or “the Company”)

Business Update

In-House R&D Programme for Bitcoin Mining

The board of Quantum Blockchain Technologies (AIM: QBT) is pleased to inform
shareholders that as part of its new research and development (‘R&D’)
strategy in respect of advanced proprietary techniques for Bitcoin mining, the
Company has entered into a one-year service agreement with a UK based
international cryptography expert whose specialism is cryptocurrency mining
blockchain optimisations.

Working together, the Company believes that there are tangible and disruptive
optimisations that can be made at multiple levels within the end-to-end
Bitcoin mining process, which could result in faster execution and energy
saving.

Implementation on a first set of existing optimisations is expected to be
ready for testing in the coming weeks.

The aim of this work is to improve the efficiency of Bitcoin mining, targeting
a material reduction in energy usage and faster hash processing, which will
increase the probability of successful mining.

The Company intends to apply for patents over any relevant intellectual
property generated from the process.

Furthermore, already existing and imminent optimisations are expected to be
made available for mining on commercial cores within the next three months, on
FPGA (https://en.wikipedia.org/wiki/Field-programmable_gate_array) chips
within the next six months and ultimately on ASIC
(https://en.wikipedia.org/wiki/Application-specific_integrated_circuit) chips
by the second half 2022.

This line of R&D, which relies on AI deep-learning and cryptanalysis amongst
other techniques, represents one of the “out-of-the-box” directions taken
by the Company to achieve highly competitive Bitcoin mining results. The
Company and its new consultant will also explore other proof-of-work
cryptocurrencies and their competitive mining advantages.

As part of the one-year service agreement, the consultant has been awarded
share options over 10,000,000 new ordinary shares of 0.25 pence each in the
Company at an exercise price of 5p each, and which can be exercised between 15
February 2022 and 15 August 2022.

Francesco Gardin, CEO and Chairman commented: “Securing the services of an
international expert, who already has significant experience and know-how in
Bitcoin mining optimisations, is one of the first concrete moves by the
Company to challenge the substantial Bitcoin market.

“The Company is addressing, in parallel, other cutting-edge approaches to
Bitcoin mining, including, among others, the use of quantum computing. More
detailed announcements will be made in due course. We believe that this
out-of-the-box approach gives us the potential to play a disruptive role in
the Bitcoin mining industry.”

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

-ends-

For further information please contact:

 Quantum Blockchain Technologies Plc Francesco Gardin, CEO and Executive Chairman  +39 335 296573        
 SP Angel Corporate Finance (Nominated Adviser & Broker) Jeff Keating              +44 (0)20 3470 0470   
 Leander (Financial PR) Christian Taylor-Wilkinson                                 +44 (0) 7795 168 157  

About Quantum Blockchain Technologies Plc

QBT (AIM: QBT) is an AIM listed investment company which has recently
realigned its strategic focus to technology related investments, with special
regard to Quantum computing, Blockchain, Cryptocurrencies and AI sectors.
 The Company has commenced an aggressive R&D and investment programme in the
dynamic world of Blockchain Technology, which includes cryptocurrency mining
and other advanced blockchain applications.

For further information, please
visit, www.quantumblockchaintechnologies.co.uk



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