Skip to content

Quantum Blockchain (QBT) Share Price Rallied 25% After Achieving a Crucial Milestone

Simon Mugo trader
Updated 5 Nov 2021

Quantum Blockchain Technologies PLC (LON: QBT) share price rallied 25% after announcing that it had completed a crucial stage in developing a new Bitcoin mining technology.

The blockchain technology company said that it had completed the first phase of its FPGA (field-programmable gate array) and was ready to move to the second phase, developing the prototype of its ASIC chip.

The company is moving closer to its ultimate goal of developing cryptocurrency mining technologies that are faster and more energy-efficient, which could revolutionise the entire industry.

ASIC chips are manufactured in two steps, the first being the development of a logic gate architecture used by the final ASIC chip. The logic gates are usually built on a cheaper but slower chip known as an FPGA containing predefined functions.

The next step is to customise the chip’s design and manufacture a prototype in a small batch to minimise costs. Finally, the company then manufactures the final ASIC chip, which is usually an expensive affair.

Quantum Blockchain has now completed the FPGA process and is moving on to manufacture its ASIC prototype.

The blockchain company said that its ASIC chip could outperform the fastest ASIC hip currently available by as much as 24% based on internal tests. The firm also conducted AI tests, which show that its FPGA could become a powerful Bitcoin mining machine.

Francesco Gardin, Quantum Blockchain’s CEO, said: “Our R&D has delivered some very impressive results in a very short time: in only four months since the programme commenced, we have filed a patent application where we believe the ASIC ULTRA Boost has improved the standard mining algorithm, after five years of little or no progress following the publication in 2016 of the ASIC Boost paper.”


“We will soon be ready to start the design of our ASIC Bitcoin mining chip which, on paper, already outperforms, in speed, the current best in class ASIC Bitcoin mining commercial solution.”

Quantum Blockchain’s R&D efforts are led by an anonymous crypto expert hired by the company months ago, whose identity was withheld, leading many to ignore the move.

However, the recent patent application and the FPGA development indicate that the expert is highly skilled given the short time the company has achieved these crucial milestones.

*This is not investment advice.

Quantum Blockchain share price.

IG chart of Quantum Blockchain share price 05-11-2021
Source: IG

Quantum Blockchain shares surged 25% to trade at 3.50p, rising from Thursday’s closing price of 2.80p.

Should you invest in Quantum Blockchain shares?

Quantum Blockchain shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are QBT shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies.

[optin-monster slug=”p0ejbloqlwcce16kx3do”]

Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading