Quantum Blockchain Technologies Shares Rise After Bitcoin Mining Test Success

May 10, 2023 at 3:33 a.m. ET

By Kyle Morris

Shares in Quantum Blockchain Technologies rose 12% on Wednesday after the company said that it has seen significant improvements in its bitcoin mining success rate and energy use after making advances in its software.

The company said testing of its proprietary bitcoin mining search algorithm has shown a theoretical improvement…

By Kyle Morris

Shares in Quantum Blockchain Technologies rose 12% on Wednesday after the company said that it has seen significant improvements in its bitcoin mining success rate and energy use after making advances in its software.

The company said testing of its proprietary bitcoin mining search algorithm has shown a theoretical improvement of 2.6 times compared with standard bitcoin mining industry practices.

Shares at 0723 GMT were up 0.18 pence at 1.65 pence.

Write to Kyle Morris at kyle.morris@dowjones.com