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By Michael Susin
Quantum Blockchain Technologies PLC shares rose Monday after the company said that experimental bitcoin mining using its algorithm showed positive results.
Shares at 0724 GMT were up 0.55 pence, or 30%, at 2.4 pence.
The London-listed cryptocurrency investment company said one method tested showed improved performance in speed and energy consumption compared with current crypto mining devices.
The purpose of the testing is to collect real time data to develop knowledge-based algorithms, the company said.
Quantum Blockchain expects to fill two new patent applications as soon as practicable, it said.
Write to Michael Susin at [email protected]
Mark Newton, head of technical strategy at Fundstrat, thinks the S&P 500's late-day reversal on Friday provides 'hopes that a minor bounce is underway.'
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