Quantum computing company PsiQuantum has taken quantum concerns to another level with its latest move.
PsiQuantum has taken another step closer to its goal of building the world’s first functional quantum computer.
Accordingly, the company announced that it has begun construction of a 1 million qubit quantum facility that scientists have stated is powerful enough to break Bitcoin’s encryption.
However, the company stated that it had no intention of attacking Bitcoin.
PsiQuantum announced that it has begun construction of a fault-tolerant quantum computing facility in Chicago with a target capacity of 1 million qubits.
PsiQuantum co-founder Peter Shadbolt shared a photo of their Chicago facility on his X account, stating that 500 tons of steel structure were erected in six days to house the computer.
The first phase is expected to be partially completed around 2027, with the final target being operational around 2028. This facility will have processing power equivalent to tens of billions of traditional computers and will primarily serve the next generation of artificial intelligence supercomputers.
While the cryptocurrency community is currently focused on the potential of these computers to crack Bitcoin, another PsiQuantum co-founder, Terry Rudolph, stated that he has no intention of using quantum computing to attack Bitcoin. He also noted that the company is too large to secretly carry out such an attack.
*This is not investment advice.
