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Quantum Blockchain Technologies PLC ( (GB:QBT) ) just unveiled an update.
Quantum Blockchain Technologies has raised £500,000 via a placing of 142,857,142 new shares at 0.35 pence, with proceeds earmarked to advance its proprietary Bitcoin mining R&D and begin porting its AI Oracle software onto new ASIC mining rigs. The company also plans to invest up to £100,000 in BlocKeeper, a newly formed subsidiary that will run a hardware-free virtual Bitcoin mining model by acquiring hashing power from existing miners to secure competitively priced Bitcoin production.
BlocKeeper intends to leverage QBT’s industry network and AI-driven software to enhance partner miners’ hashing performance, while operating with its own board led by CEO Alessandro Malacart and two independent non-executive directors with quantitative finance and industrial treasury backgrounds. QBT will keep its core R&D operations separate but complementary to BlocKeeper and is seeking to list the new subsidiary on the AQSE Growth Market, a move that could broaden its capital access and market presence, although the listing is not yet certain.
Spark’s Take on QBT Stock
According to Spark, TipRanks’ AI Analyst, QBT is a Neutral.
The score is primarily constrained by very weak financial performance (minimal revenue, persistent losses, negative equity, and multi-year cash burn). Technicals add further pressure with the stock trading below key moving averages and negative MACD. Valuation provides limited support because the negative P/E reflects ongoing unprofitability and no dividend yield is available.
To see Spark’s full report on QBT stock, click here.
More about Quantum Blockchain Technologies PLC
Quantum Blockchain Technologies Plc is an AIM-listed research and development and investment company focused on blockchain technologies, particularly cryptocurrency mining and advanced blockchain applications. Its core programme aims to create Bitcoin mining tools and software that significantly improve mining efficiency versus current market practices.
Average Trading Volume: 5,675,489
Technical Sentiment Signal: Sell
Current Market Cap: £6.96M
Find detailed analytics on QBT stock on TipRanks’ Stock Analysis page.