Quantum Blockchain Technologies Changes Focus to Develop Different Bitcoin Mining Tool
November 30 2021 - 5:26AM
Dow Jones News
By Anthony O. Goriainoff
Quantum Blockchain Technologies PLC said on Tuesday that it has
decided to focus on developing a 5 nanometer application-specific
integrated circuit, or ASIC, as its proprietary Bitcoin mining
tool.
It had previously said it would develop a 7 nanometer tool, but
decided to make the change after a leading international Bitcoin
mining equipment manufacturer recently said it will use 5nm tools
for the next generation of Bitcoin miners.
The London-listed investment company said focusing on the
more-efficient 5nm tool will be significantly more expensive with
regards to industrial production than its original strategy, but
that the initial phase of testing won't cost the company much more
than the same process for a 7nm tool.
"We have quickly identified a major international supplier,
which will give us access to the 5nm technology and support our
design team, given the very specific features and know-how involved
when designing a 5nm ASIC," Chief Executive Francesco Gardin
said.
Shares at 0955 GMT were up 0.10 pence, or 3.4%, at 3.05
pence.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
November 30, 2021 05:11 ET (10:11 GMT)
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