Quantum Blockchain Technologies plc (AIM: QBT) has resumed its quantum computing research programme focused on Bitcoin mining, restarting work that was paused at the end of 2023 due to limitations in available quantum hardware.
The company said the same research team from the University of Milan that worked on the original project will continue leading the initiative, allowing development to build directly on previous progress.
QBT’s research centres on the application of quantum computing to cryptographic hashing and proof-of-work optimisation, with the company highlighting its proprietary quantum implementation of the SHA-256 algorithm as a key strategic asset.
The company plans to use this internal quantum SHA-256 capability within its own benchmarking framework to assess the performance of emerging quantum computing platforms as the technology evolves.
QBT said the programme will focus on monitoring advances in quantum computing architectures, analysing new quantum algorithms relevant to hashing and optimisation, and benchmarking real-world performance across different systems.
While acknowledging that current quantum computers are still not capable of delivering practical advantages in Bitcoin mining, the company believes rapid advances in the sector could eventually create commercially viable opportunities.
Chief executive Francesco Gardin said the company believes early investment and proprietary development in quantum computing could provide a significant long-term competitive advantage within blockchain technology and mining applications.
