Palantir Denies Ownership Of Quantum Computing Power Bitcoin-Mining Company

A mysterious bitcoin-mining company based in Hong Kong that is promising to “infuse” the industry with the power of quantum computing claimed this week it is owned by big-data company Palantir Technologies, the secretive data analytics company co-founded by venture capitalist and PayPal co-founder Peter Thiel.

One problem: No one at the Silicon Valley company appears to have heard of CoinFac Ltd. Reached by International Business Times, a Palantir spokesperson said there is simply no connection between Palantir and CoinFac and that the former — recently valued at $20 billion — had already requested the company remove all references to Palantir.

The claim caused a stir this week because Palantir, which in December raised $880 million, works closely with law enforcement agencies to help track terrorists and recently expanded into the financial sector — working with banks and hedge funds to help them process huge amounts of data. The notion that it had invested in a bitcoin-mining operation seemed curious, if not newsworthy.

In addition to claiming Palantir as an investor, CoinFac promised in a press release that those who use its services will be able to take advantage of the huge increases in processing power promised by the advent of quantum computing. Users can pay between 1 bitcoin (currently valued

Read more ... source: TheBitcoinNews

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