Quantum Blockchain Technologies lands US patent for its Ulta Boost bitcoin mining technology

Quantum Blockchain Technologies PLC (AIM:QBT, FRA:BYA1) announced it has secured a US patent for its ASIC Ultra Boost technology, clearing the way for the company to pursue licensing and other commercial arrangements with Bitcoin mining hardware manufacturers.

The patent, granted by the US Patent and Trademark Office on 6 October, protects QBT's technology until mid-January 2043, subject to maintenance fees. Its European counterpart remains under examination.

ASIC Ultra Boost is designed to eliminate redundant computations within the SHA-256 process used in Bitcoin mining. Post-synthesis hardware analysis showed a 2.42% reduction in silicon area and a 2.82% reduction in registers within the message scheduler, while the complete SHA-256 pipeline recorded reductions of 0.81% and 1.16%, respectively.

Chief executive Francesco Gardin said the patent turns ASIC Ultra Boost into "an enforceable intellectual property asset", adding that QBT is now focused on converting it into shareholder value through engagement with the industry.

"Our hardware analysis confirms that the technology delivers measurable savings in the silicon area within the SHA-256 message scheduler, at the heart of every Bitcoin mining ASIC. We are now focused on converting this asset into value for shareholders through engagement with the industry," Gardin said in a statement.

The company noted additionally that it has retained patent specialist P McCoy Smith of Lex Pan Law to assist with commercialisation.