Researchers in Bitcoin mining assert that new technology increases the probability of successful hashing by 260%.

Quantum Blockchain Technologies (QBT), a research firm located in the United Kingdom, has created algorithms powered by artificial intelligence that may considerably enhance the mining success rate of specific ASIC Bitcoin (BTC) miners, according to CEO Francesco Gardin in an interview with Cointelegraph.

In an exclusive discussion with the publication, Gardin explained how Quantum Blockchain Technologies (QBT) has utilized AI to facilitate the intelligent search for winning hashes as a substitute for traditional random searches.

Over the past two years, the company has devised several patented techniques by leveraging the knowledge of approximately twenty specialists in the areas of quantum computing, machine learning, cryptography, ASIC chip design, and algorithm optimization theory.

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QBT’s machine learning teams have formulated two distinct algorithmic search techniques that reportedly enhance the performance of ASIC miners by boosting efficiency and the likelihood of successful outcomes.

“Method A” is claimed to enhance miner efficiency by 10%, while “Method B” is projected to increase the chances of a miner discovering a winning hash by 260%.

Gardin mentioned that the company aims to investigate three specific domains, beginning with a short-term objective of improving the mining performance of current commercial ASIC chips by integrating a software AI component that operates on a mining rig.

The team is also developing a new architecture for ASIC mining chips to optimize Bitcoin mining, which was outlined in a recent patent application.

In the long term, QBT aspires to utilize quantum computers for Bitcoin mining through a developing SHA-256 computation method that can function on quantum computing systems.

In July 2023, QBT filed a patent application for this approach, detailing its architectural modifications to Bitcoin mining ASIC chips, which it asserts pre-processes data utilized by future blocks on the Bitcoin blockchain.

Gardin stated that the QBT Message Scheduling for Cryptographic Hashing ASIC (MSFCA) can execute pre-calculations of upcoming BTC blocks before the current block is finalized. The “anticipatory resource efficiency algorithm” minimizes the logic gates of SHA-256 ASIC architecture.

Logic gates are software or hardware components that perform logical operations. Gardin noted that MSFCA enables miners to utilize fewer logic gates, thereby reducing energy expenses and enhancing the efficiency of ASIC mining hardware.

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The company estimates that miners could liberate up to 8% of logic gates of SHA-256 ASIC chips by pre-processing data for future blocks on the Bitcoin blockchain, rendering certain logic gates involved in the computation of that data unnecessary on the ASIC chip.

Gardin also commented on the potential impact of these new methods on the Bitcoin mining sector. QBT indicated that BTC mining is heavily reliant on hardware configurations and the hashing power of miners, as well as consuming substantial amounts of energy.

Gardin added that the likelihood of discovering the winning hash increases with the number and halving speed of a miner’s fleet or an entire pool, along with the associated energy costs while performing a “completely random search.”

“There are no methods, intelligence, or strategy in current BTC mining, but simply brute force and luck.”

Despite the mining rig market being dominated by a limited number of ASIC manufacturers, Gardin believes that there are few differences, features, or significant advancements among hardware, aside from variations in hashing rates and power consumption.

He further stated that QBT’s technology, primarily developed using Intel’s Blockscale ASIC chips, which have recently been discontinued, would offer benefits to any mining rig.

The firm’s technologies are being promoted as providing an “uncatchable advantage” through AI and SHA-256 optimization, and while QBT does not intend to open source its patented methods, Gardin mentioned that QBT is exploring various options to introduce its solutions to the Bitcoin mining market.

This may involve subscription services, licensing, establishing a joint venture, or outright acquisition of the company and its related technologies.

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