QBT Quantum Blockchain Technologies Plc

 
TIDMQBT 
 
18 January 2023 
 
                      Quantum Blockchain Technologies Plc 
                           ( "QBT" or "the Company") 
 
                            Altcoins Opportunities 
 
Quantum Blockchain Technologies (AIM: QBT), a developer of crypto mining 
software and hardware aiming to increase efficiencies in the mining of Bitcoin 
("BTC"), is pleased to announce that it has made the strategic decision to 
apply its SHA-256 based optimisations to other cryptocurrencies within the 
Bitcoin "family". 
 
While the main focus of QBT's Research & Development (R&D) teams will remain on 
developing the fastest and most energy efficient BTC mining products, the board 
believes it makes commercial sense to offer the same potential increase in 
efficiencies to miners of the two BTC 'hard forks', namely, Bitcoin Cash 
("BCH") and Bitcoin SV ("BSV") which it has determined is possible without any 
additional monetary or opportunity cost or time diversion from the Company's 
current R&D endeavours. 
 
The main difference among the above currencies is the number of transactions 
per block processed. While BTC sees an average processed transaction per second 
("tps") of around 4, BCH is usually around 100 tps and BSV can reach 50,000 
tps. 
 
The board thereby believes that also for BCH and BSV miners, the attractiveness 
of QBT's products will be the increased probability of mining a block with 
their use. In the Company's view this offering would open the market for BCH 
and BSV to a far wider audience. 
 
The remaining amount of BCH and BSV still available to be mined is 
approximately the same as BTC, i.e., 1.7 million coins for each currency (out 
of the total maximum supply of 21 million coins each). The current market price 
of BTC is USD 21,170[1]1, compared to the current market prices for BCH and BSV 
of USD 122.91 and USD 44.71 respectively. Despite the price differential, the 
Company has calculated that there is still a market value of approximately USD 
2901 million for these two currencies, which the board believes makes this 
strategy attractive for the Company. 
 
Finally, the mining difficulty levels for BCH and BSV are slightly lower in 
degree than for BTC, which makes their mining far less capital intensive and 
therefore potentially as rewarding. 
 
Francesco Gardin, CEO and Chairman commented: "Our main target is and will 
remain to develop BTC miners. However, the same R&D results can be applied to 
BCH and BSV, just by re-training our Machine Learning methods A and B (see 
announcement dated 15 November 2022), which we believe is a straight forward 
process. We are confident that our SHA-256 optimisations and the quantum 
version of SHA-256 will work for mining BCH and BSV with no change, due to 
SHA-256 being the core mine algorithm for both. Any additional opportunities 
for our proprietary mining technology are always welcome as it has the 
potential to enhance shareholder value." 
 
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. 
 
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 
Kasia Brzozowska 
 
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 with a strategic focus on 
developing 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. 
 
Glossary of Terms 
 
Hard Fork: The point in time and block number, when the original blockchain 
branches out to a new blockchain which evolves separately from the original 
one. As a result of this a new crypto is associated to the hard fork. 
 
1 As of 17th January 2023, at 17.00 (GMT) 
 
 
 
END 
 
 

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