Quantum Blockchain Technologies Plc - Bitcoin Mining Report
PR Newswire
London, March 22
22 March 2023
Quantum Blockchain Technologies Plc
( "QBT" or "the Company")
Publication of Company report on Bitcoin mining industry
Quantum Blockchain Technologies, the AIM-listed (AIM: QBT) company actively developing breakthrough hardware and software to improve the efficiency of crypto-currency mining, today publishes its detailed research report on the financial performance of the world's leading publicly-traded Bitcoin mining businesses.
The report, titled "BTC 2022 Mining Industry: Main Listed Miners" is available by clicking on the following link: quantumblockchaintechnologies.co.uk/investor-relations/reports
Among the report's key findings is the surprising inverse relationship during 2022 between the Bitcoin price and the technical difficulty of mining successfully. As the price of Bitcoin fell, it became more difficult and expensive for miners to participate in the industry.
The report dissects various performance metrics of the nine largest publicly-traded Bitcoin mining companies and also ranks them on their 2022 mining output. Key factors such as individual company's electricity usage, EBIT and EBITDA, mining efficiency, the ratio between Bitcoins mined and sold for liquidity purposes are all tabulated and graphed. Bitcoin is the largest cryptocurrency in the world. It lost nearly 65% of its market value during 2022.
For Quantum Blockchain Technologies ("QBT"), the research underpinning this report is part of the Company's fundamental analysis to discern important economic drivers of today's Bitcoin mining industry. QBT sees significant opportunities for new technologies, including those being developed at the company, to improve the operational performance and financial return of Bitcoin mining hardware.
For further information please contact:
Quantum Blockchain Technologies Plc
Francesco Gardin, CEO and Executive Chairman +39 335 296573
SP Angel Corporate Finance (Nominated Adviser & Broker)
Jeff Keating +44 (0)20 3470 0470
Kasia Brzozowska
Leander (Financial PR)
Christian Taylor-Wilkinson +44 (0) 7795 168 157
About Quantum Blockchain Technologies Plc
QBT (AIM: QBT) is an AIM listed investment company which has recently realigned its strategic focus to technology related investments, with special regard to Quantum computing, Blockchain, Cryptocurrencies and AI sectors. The Company has commenced an aggressive R&D and investment programme in the dynamic world of Blockchain Technology, which includes cryptocurrency mining and other advanced blockchain applications.
