Odaily Planet Daily reports that quantum computing company PsiQuantum has begun construction of a million-qubit quantum computing facility in Chicago. PsiQuantum co-founder Peter Shadbolt shared photos of the construction site on X platform on Thursday, stating that 500 tons of steel have been assembled in six days. The company previously announced in September that it raised $1 billion to build the facility, in partnership with chip manufacturer Nvidia, aiming to make quantum computing commercially practical to support the next generation of AI supercomputers.
Scientists say that a million-qubit computer has the computing power equivalent to hundreds of billions of ordinary computers, enough to crack Bitcoin’s encryption technology. Bitcoin developers are currently discussing whether to take immediate measures through a hard fork to address the quantum threat. A preprint scientific paper released last month estimates that cracking a 2048-bit key requires about 100,000 qubits, while Bitcoin encryption uses a 256-bit key. The largest quantum computer to date is from Caltech, with a scale of 6,100 qubits.
PsiQuantum co-founder Terry Rudolph stated in July that the company has no plans to use quantum computers to derive private keys from public keys. A study by crypto asset management firm CoinShares in February this year pointed out that only 10,230 Bitcoin are simultaneously vulnerable to quantum attacks, with their wallet addresses’ encryption keys publicly visible, valued at approximately $728 million at current market prices.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Miners brace for changing economics ahead of 2028 Bitcoin halving
Bitcoin’s fifth halving is slated for April 2028, and the mining sector is entering that cycle with far tighter margins than in 2024. A mix of higher input costs, strained energy markets and increasingly explicit regulatory expectations are reshaping how miners operate, finance, and plan for the
CryptoBreaking25m ago
BTC Breaks Through $74,000: In-Depth Analysis — Middle East Tensions Ease, Short Squeezes, and Market Structure Reshaping
BTC breaks through $74,000, reaching the highest level since the outbreak of the Iran war; short sellers are liquidated in a single day totaling $427 million. How did expectations for U.S.-Iran negotiations trigger this round of gains?
GateInstantTrends54m ago
Foundry Launches Zcash Mining Pool Alongside Industry-Leading Bitcoin Pool
Foundry Digital launched its Zcash mining pool, capturing 29% of the network's hashrate shortly after its announcement. They also introduced Zcashinfo.com, a block explorer for transaction tracking, further enhancing infrastructure for the Zcash ecosystem.
Decrypt1h ago
