- Quantum Blockchain Technologies
- 15 January 2025 14:06:42
Source: Sharecast
The AIM-traded company said the patent would cover an efficient hardware design for the AI Oracle on an ASIC chip, which was intended to optimize Bitcoin mining operations.
It said the AI Oracle, introduced in October as part of the firm’s ‘Method C’ initiative, had also been developed in a field-programmable gate array (FPGA) version.
Initial testing revealed minimal resource overhead, with the AI Oracle requiring only 1% to 4% of the area and energy of a double SHA-256 computational lane, the foundational component of most ASIC chips used in Bitcoin mining.
The board said the reduction in computational overhead achieved by the AI Oracle was expected to significantly enhance mining efficiency, with the additional energy cost proving negligible.
It said such an advancement would be poised to deliver a competitive edge in Bitcoin mining by optimising the performance and energy consumption of mining hardware.
QBT confirmed that it holds the intellectual property rights for the AI Oracle’s ASIC design, and was planning to commercialise the technology.
The company added that it was aiming to monetise its proprietary innovation through strategic deployment in the cryptocurrency mining sector.
“The key requirements included in the specification of the on-chip implementation of the AI Oracle, are the limited area to be used, the low energy consumption and the processing speed,” said chief executive officer and executive chairman Francesco Gardin.
“We have determined that the AI Oracle will not affect the performance of any given SHA-256 architecture of an ASIC chip.
“All three requirements have been met by our FPGA/ASIC design team.”
Gardin described it as an “outstanding result” for the team and QBT, adding that the AI Oracle implementation overhead between approximately 1% and 4% of a double SHA-256 lane was an “extremely impressive” result.
“While the patent application is meant to protect these innovative applications of the AI Oracle implementation, the core technology for the generation of the Oracle - the parameters to build the AI Oracle generated by the Machine Learning Model C - have been kept separate as these represent an asset for the company which it intends to protect as an industrial secret.”
At 1327 GMT, shares in Quantum Blockchain Technologies were down 1.87% at 0.74p.
Reporting by Josh White for Sharecast.com.