Unlocking Bitcoin Mining: An Interview with Francesco Gardin, CEO & Exec Chairman of QBT

Share Talk LTD

Zak Mir talks to Francesco Gardin, CEO and Executive Chairman of QBT, an AIM-listed investment company focused on a disruptive R&D and investment programme within the blockchain sector, as it announces a breakthrough achievement for its predictive Bitcoin Artificial Intelligence model mining tool.
QBT believes this is a significant milestone since this proprietary technology has been used in trials to mine Bitcoin. It provides a material competitive advantage in mining by reducing the energy cost of mining by approximately 30% or accelerating the mining speed at current energy consumption and costs with approximately a 30% greater hash rate.
In the rapidly evolving world of cryptocurrency, Bitcoin mining stands as a complex and competitive frontier. Companies are constantly searching for innovative solutions to enhance their mining capabilities. One such company, QBT, is at the forefront with a cutting-edge approach that utilises artificial intelligence. In this blog, we delve into an insightful conversation with Francesco Gardin, CEO and Executive Chairman of QBT, who shares the latest advancements and breakthroughs in their predictive Bitcoin AI model.
The Journey of QBT

Francesco Gardin starts by outlining the history of QBT, which has been on a transformative journey for over three years. This journey is not just about creating a mining tool; it’s about challenging the status quo of Bitcoin mining. The core of their innovation lies in tackling the SHA-256 algorithm, which is fundamental to Bitcoin generation.
Gardin describes their mission as one to “crack the code” of SHA-256, although he admits that “cracking” is a strong term. Instead, they aimed to enhance the algorithm’s efficiency using advanced AI techniques. These techniques have led to the creation of an Oracle that predicts the algorithm’s behaviour, significantly reducing the computational resources required to mine Bitcoin.
What is the Oracle and How Does it Work?

The Oracle developed by QBT is an intriguing innovation. It operates by providing a predictive analysis of whether a given input into the SHA-256 algorithm has a chance of generating a successful output—a winning hash. This means that miners can avoid unnecessary computations, which traditionally require trying trillions of inputs to find a valid hash.
Instead of brute-forcing through countless possibilities, the Oracle can qualitatively assess whether the outcome will meet the target criteria. This not only saves time but also resources, which is particularly critical in an industry where energy costs are a major concern.
The Competitive Edge of QBT’s Technology

One of the significant advantages of this Oracle is its efficiency. By reducing the energy cost of mining by approximately 30%, QBT is poised to provide miners with a substantial competitive edge. This improvement can either accelerate mining speed at current energy consumption levels or enhance the hash rate, which is crucial for successful mining operations.
Gardin highlights the current landscape of Bitcoin mining, noting that as Bitcoin prices rise, the competition intensifies. Miners are constantly seeking ways to improve their performance, and QBT’s technology offers a promising solution.
Licensing and Business Model

A key question arises about the accessibility of QBT’s intellectual property (IP). Gardin clarifies that their business model is geared towards licensing the technology. The Oracle’s capabilities must be integrated directly into mining chips, a process that involves collaboration with chip manufacturers.
When asked about potential partnerships, Gardin mentions that while the number of companies manufacturing Bitcoin mining chips is limited, those who understand the technology’s impact can significantly enhance their operations. The licensing structure typically involves an upfront payment for the right to use the IP, alongside ongoing maintenance fees for updating the neural networks that keep the Oracle aligned with blockchain developments.
Future Developments and Innovations

While the Oracle represents a significant breakthrough, Gardin is clear that it is just the beginning. QBT has two other ongoing projects that aim to further improve mining efficiency. These projects are still in testing phases, but initial results indicate a potential for even greater performance enhancements.
Gardin notes that while the lab results show promising improvements, adapting these methods to existing chips presents unique challenges. The limitations of current chip technology mean that QBT must continually refine their approach, which could eventually lead to collaborations with chip designers to create optimised solutions.
QBT’s Vision and Potential

As a small-cap company operating on the cutting edge of technology, QBT holds a special niche within the cryptocurrency sector. Gardin expresses confidence in their expertise regarding the SHA-256 algorithm and its significance in Bitcoin generation. While QBT’s immediate focus is on licensing powerful technologies to major players in the market, the potential for growth is immense.
Gardin envisions a future where QBT could evolve into a larger player in the tech industry, but he emphasises that their current priority is to develop and license technologies that can significantly improve mining operations for their partners.
Conclusion

The conversation with Francesco Gardin reveals the innovative spirit driving QBT as they navigate the complexities of Bitcoin mining. With their predictive AI technology, they are not just participating in the cryptocurrency landscape; they are actively reshaping it. As the demand for efficient mining solutions grows, QBT is well-positioned to lead the charge with its groundbreaking Oracle and ongoing advancements. The road ahead looks promising, and the potential for further breakthroughs continues to excite both investors and industry insiders alike.
Stay tuned for more updates from QBT as they continue to explore the frontiers of blockchain technology and redefine what is possible in Bitcoin mining.
https://www.share-talk.com/zak-mir-talks-to-francesco-gardin-ceo-executive-chairman-of-quantum-blockchain-technologies-plc/