I note that the bid/ask spread is around 2.4p to 2.6p, so investors need an additional 8% price rise to break even (on top of trading charges and stamp duty). That’s a larger cost investors typically have to swallow when we invest in penny shares.

I guess it’s small compared to the ups and downs of a stock like this, though. Over the past 12 months up until yesterday’s closing price, we’re looking at a 900% gain for the Quantum Blockchain share price. That’s perhaps not quite as impressive as the Argo Blockchain share price performance over the same period, up 1,700%.

But it does show the same kind of pattern. The shares climbed early in 2021, and since March they’ve started to fall back. But in the past couple of weeks, Quantum Blockchain has been rising again. So what does the company do? According to its website, it’s pursuing “a new and disruptive approach to blockchain technology“.

Quantum Blockchain technology

To be more specific, the company says: “Our investment programme is focused on selecting the most innovative and out-of-the-box start-ups in the Blockchain and cryptocurrencies sector, with whom we will work alongside to develop exciting synergies.”

The most recent news, on 30 September, involved the filing of “the company’s first breakthrough patent application on Bitcoin mining algorithm optimisation“. The announcement covers the technical details, but, in short, the development apparently makes for “a faster and more efficient mining process.”