Quantum Computing's Impact on Bitcoin Mining Assessed by BTQ Technologies

BTQ Technologies has released a research paper titled 'Kardashev Scale Quantum Computing for Bitcoin Mining,' which provides a quantitative evaluation of the physical costs associated with using quantum computing for Bitcoin mining. According to ChainCatcher, the study highlights a common market confusion between two types of quantum threats: attacks on Bitcoin's elliptic curve digital signatures, which are considered real and urgent, and quantum mining accelerated by Grover's algorithm, which is theoretically possible but extremely costly in practice. The paper argues that to significantly impact consensus, a quantum computing cluster with energy consumption far exceeding current human civilization levels would be required. The research introduces an open-source resource estimation model that includes key components such as reversible double SHA-256 computation, fault-tolerant quantum error correction, and large-scale qubit scheduling. The conclusion emphasizes that the more immediate risk to Bitcoin arises from vulnerabilities in cryptographic signatures rather than quantum mining capabilities.