Quantum Blockchain Technologies CEO on bitcoin mining rig milestone, next steps

Hello, you're watching Proact, and I'm joined by Quantum Blockchain Technology CEO,

Francesco Gardin.

Francesco, very good to speak with you.

You've confirmed the first Bitcoin mining rig has been shipped.

Where is the rig right now, and when will it reach the Milan lab?

Very good morning, thank you again for having me with you.

Yes, our practice is that before we ship from the site where the Bitcoin has been collected,

we do the testing, so now right now the mining rig is in Oregon, and it's been tested

by our stuff there, our consultants, and we are about to ship it today or tomorrow.

And that's quite a normal practice that before you collect, after you collect from the

factory, you want to make sure that all the specs are in line, because otherwise it doesn't

make sense to have the terms of planting, shipping, and then going back, because there

were some faults.

And so the process in control, the mining rig is with us, but in our US premises, and

it's about to be shipped to Milan lab, hopefully today, all maximum tomorrow.

You're working to integrate the methods CAI Oracle with the rig.

Could you explain what that integration involves in practice?

Sure.

Okay, so first of all the Oracle work with any ASIC, so the model doesn't change, what

does change is the data that you have to feed into the model, and of course the data are

different from ASIC to ASIC.

So the first phase is to generate the data, so that we can then feed the AI model, which

generates the Oracle.

And then the integration is basically finding in the operating system the right part, where

the analysis of the meta-editors, okay, is a technical work, but it's basically some key

elements of the other are selected of the many meta-editors, which could be candidates,

and then that's fed to the ASIC boards.

So it's not an extremely complex task, but these operating systems are also written in

that.

Not a straightforward like just like Rust, and it takes a lot of skills, and therefore of

our team of nearly 20 people working in R&D and the development of the project, we have

asked seven of them, so it's not new people, but it's people already working for the company

just to give priority to this task.

What's the difference between the software AI Oracle you're testing now, and the hardware

version you previously discussed?

Yeah, so the where for the hardware version you have to look at each single bit or the

varies in the header.

In this case our team did an excellent job, the R&D team for a format of the C, and they

managed to extract the key information from the header, which don't change when you're

rolling the headers in the timestamp version of a knowns, and they're still retained

properties to have a higher probability.

This is an outstanding piece of work that they have done, and I mean we were unsure that

we with so little information could still make radiation, but in the end they managed

to do it.

I mean of course we're extremely happy about this.

Francesco you've allocated seven experts to the task, when could investors start to

see results if the test confirm improved mining performance?

Okay, so the expectation we reset with the actual manufacturer of ASIC chips and system

is that realistically should take between four and six weeks, but as he always happens

when you are dealing with the new code in your software there are always, I mean the

devil is in the details, so I mean that's an indicative time.

When we will show the results then they need of course to double check them, so either

they will come to our Miller Lab or we will go to their labs and one day satisfy the results

then we will agree and decide how to deploy this software with their mining rigs.

So what sort of milestones should we be watching out for them Francesca?

I'm always very very I mean cautious about timing because as I said the hardware and software

are already really a very complex situation and it takes one bit to delay by one week

out 10 weeks, not 10 weeks no, but by several weeks the outcome, but our hope, and this

is a hope, is that we should show the results and the reach and agreement in the fall in

the weeks.

Well Francesca I hope you'll continue to keep us updated as you progress, thank you very

much for speaking with us today.

Thank you so much usual.