PsiQuantum begins building a million-qubit quantum computing facility, scientists say it is enough to crack Bitcoin encryption technology

DeepFlowTech · 2026-03-06T01:15:10+00:00

Quantum computing company PsiQuantum is building a million-qubit computing facility that could threaten Bitcoin's encryption technology. Despite concerns, the company states it has no intention of using its technology to attack Bitcoin, and the actual risk is limited to approximately 10,230 Bitcoins.

DeepFlowTech

2026-03-06 01:15:10

Abstract generation in progress

Deep Tide TechFlow News, on March 6, according to Cointelegraph, quantum computing company PsiQuantum has begun building its million-qubit computing facility, which scientists say is large enough to crack Bitcoin’s encryption technology. PsiQuantum co-founder Peter Shadbolt shared photos of the construction site in Chicago on social media, stating that 500 tons of steel had been installed in six days.

The company announced last September that it raised $1 billion to collaborate with chip manufacturer Nvidia to build this facility, aiming to make quantum computing commercially practical and support the “next-generation AI supercomputer.”

Although some Bitcoin communities are concerned that quantum computing could threaten cybersecurity, PsiQuantum co-founder Terry Rudolph stated in July that the company has no intention of using quantum computing to attack Bitcoin. A research report by crypto asset management firm CoinShares shows that even if quantum computers can crack Bitcoin, the actual risk is limited to about 10,230 Bitcoins (worth approximately $728.2 million at current market prices).

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