Quantum Blockchain Technologies Plc - Porting AI Oracle onto an Antminer S9
("QBT" or "the Company")
Commencement of Testing of the AI Oracle on a Bitmain Mining Rig
The purpose for this project is to enable the Company to demonstrate to potential customers results of the AI Oracle's enhanced performance on a commercial grade mining rig.
Historically, QBT's R&D team has provided results based on the performance of its software simulator which the Company has been running in its
A key factor in the decision to select the S9 was that it is the last Bitmain mining rig to use a publicly available open-source operating system and firmware for field-programmable gate array ("FPGA") on the control boards. All new mining rigs produced by Bitmain (e.g. S19, S21 and S23) no longer provide open-source accessibility.
So far, QBT has successfully modified both the operating system and FPGA firmware on the S9 in order to make it suitable for the software version of Method C's AI Oracle installation which will be done in three steps:
· Data collection of the ASIC Hashing behavior to train the AI Oracle,
· Integration of the AI Oracle with the existing S9 software environment and,
· Testing and fine tuning of AI Oracle's performance during live mining.
QBT's S9 provides an excellent testbed to demonstrate the performance of the Company's technology on a real industrial mining rig which can facilitate proof of concept which QBT can then deploy on current commercial mining rigs.
The Company anticipates that the ability to demonstrate the increased quality hashing performance on the S9 is a key step in securing commercial demonstrations with large Bitcoin miners. QBT's commercial targets are therefore represented by companies that fall into two categories and QBT plans to target both:
-- those which have, in recent years, made material investments to develop
their own proprietary versions of Bitmain's control boards, operating
systems and firmware, and,
-- the aftermarket control board system integrators, which have developed
similar hardware and software.
As regards aftermarket control boards manufacturers, QBT has engaged in ongoing discussions with these companies and anticipates that access to these aftermarket control boards (and related operating systems and firmware) can be obtained once a commercial agreement has been made.
It is important to clarify that the porting of Method C's AI Oracle onto the recently delivered third party ASIC manufacturer's mining rig, now delivered and operational in QBT's R&D laboratory in
The Company can state, however, that the previously reported increased mining efficiency demonstrated on QBT's laboratory simulator is now being tested on commercial miners. Having performed exhaustive tests on the simulator for many months, the Company believes that the AI Oracle will duly perform when scaled-up to a multiple ASIC miner although there cannot be guarantee at this stage.
These two simultaneous projects with the S9 and ASIC manufacturer's mining rigs will be the first commercial tests of the software version of QBT's AI Oracle.
We stated in our announcement of
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For further information please contact:
SP Angel Corporate Finance (Nominated Adviser & Broker) +44 (0) 20 3470 0470
Leander (Financial PR) +44 (0) 7795 168 157
About
QBT (AIM: QBT) is a London Stock Exchange AIM listed Research & Development and investing company focused on an intensive R&D programme to disrupt the Blockchain Technologies sector which includes, cryptocurrency mining and other advanced blockchain applications. The primary goal of the R&D programme is to develop Bitcoin mining tools and techniques, via its technology-driven approach, which the Company believes will significantly outperform existing market practices.
