Quantum Blockchain Technologies (AIM: QBT) has received formal approval from the United States Patent and Trademark Office for its patent application covering the company’s ASIC UltraBoost technology.
The application, formally titled “Message Scheduling for Cryptographic Hashing”, relates to technology designed to improve the efficiency of Bitcoin mining by removing redundant computations from the SHA-256 message-scheduling process used in mining-specific ASIC hardware.
The company stressed that the approval does not yet represent the final grant of patent rights. Several administrative formalities remain, including payment of the required issue and publication fees, although QBT expects the patent to be formally issued in due course.
Chief executive and executive chair Francesco Gardin said the patent strengthens QBT’s intellectual-property portfolio around improving the efficiency of cryptographic hashing hardware.
The company believes the technology could attract interest from established ASIC manufacturers seeking to improve hardware efficiency and plans to explore potential licensing and other commercialisation opportunities.
QBT is also seeking semiconductor-industry advisers to help develop a strategy for monetising the patent. However, the company cautioned that the process remains at an early stage and there is no certainty over the timing, structure or outcome of any commercial discussions, nor any assurance that the patent will generate material revenue in the short term.
