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Domestic gold prices opened the new week (April 6) with a broad decline from the previous week’s close, as world gold prices fell due to positive US jobs data, raising expectations that the Federal Reserve will keep interest rates high for longer. As of 13:45 on April 6, domestic gold…
BTQ Technologies Corp. said it has published research on arXiv that provides an end-to-end physical cost estimate for using quantum computers to mine Bitcoin, concluding that quantum-accelerated mining is physically and economically impractical once real-world constraints—such as hardware requirements, error correction, and energy costs—are included.
The paper, “Kardashev Scale Quantum Computing for Bitcoin Mining,” by Pierre-Luc Dallaire-Demers, argues that public discussion around “quantum threats to Bitcoin” often mixes two distinct issues: quantum attacks on Bitcoin’s elliptic-curve digital signatures and quantum-accelerated mining enabled by Grover’s algorithm. BTQ said the analysis clarifies that the more immediate concern is signature vulnerability rather than quantum mining.
BTQ said the research models the full quantum mining stack, including reversible double-SHA-256 oracles, surface-code magic-state distillation, fleet-scale qubit logistics, and timing constraints imposed by Nakamoto consensus.
Even under a highly favorable scenario studied by the paper, competitive quantum Bitcoin mining would require approximately 10^8 physical qubits and 10^4 MW of power—described as roughly comparable to the output of a large national electricity grid.
At Bitcoin’s January 2025 mainnet mining difficulty, the paper estimates requirements rising to about 10^23 qubits and 10^25 watts of power, approaching the energy output of a star.
BTQ said the paper explains that while Grover’s algorithm provides a quadratic search advantage in theory, the advantage breaks down when the costs of oracle construction, error correction, and fleet overhead are included. As a result, the company said the research finds quantum mining is not a credible near-term threat to Bitcoin’s proof-of-work consensus.
In contrast, BTQ said the paper highlights that quantum attacks on Bitcoin’s elliptic-curve signatures using Shor’s algorithm remain a genuine and more immediate concern. BTQ said this reinforces the need for post-quantum cryptographic infrastructure.
BTQ said the findings support its broader strategy focused on securing the authentication layer rather than attempting to accelerate legacy mining with quantum hardware.
Through its “Bitcoin Quantum” work, BTQ said it has been developing and testing a quantum-safe Bitcoin architecture, including a previously launched Bitcoin Quantum testnet intended to demonstrate migration toward post-quantum cryptography. BTQ said the approach includes NIST-standardized ML-DSA signatures and more resilient transaction design, including BIP 360 (Pay-to-Merkle-Root).
BTQ also said the paper strengthens its long-term case for Quantum Proof of Work (QPoW), a quantum-native, classically verifiable consensus model. The company said the rationale is that if quantum acceleration of classical mining is not practical under real physical costs, then the alternative is to build consensus around computational tasks that quantum systems can perform natively and efficiently.
BTQ included a modeled comparison in its materials, stating that a quantum sampler consumes approximately 0.25 kWh over a 10-minute block interval, versus approximately 390 kWh per block per miner for a classical equivalent sampling-based setup—an implied energy advantage of approximately 1,560x.
“Quantum computing may reshape digital money, but not by making legacy Bitcoin mining practical,” said Christopher Tam, President and Head of Innovation at BTQ Technologies. “What matters now is securing authentication and preparing Bitcoin-like systems for the post-quantum era. Longer term, this research also strengthens the case for quantum-native consensus architectures such as QPoW, where the work is designed for quantum systems from the start rather than forced onto a classical framework.”
The paper, “Kardashev Scale Quantum Computing for Bitcoin Mining,” is available on arXiv.
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