VisionWave Secures $10M SOW to Develop qSpeed-Mine Crypto Acceleration Platform
VisionWave Holdings won a $10 million milestone-based SOW to build its qSpeed-Mine crypto mining acceleration platform on the QuantumSpeed engine, receiving $350,000 at start with $1 million, $6 million and $3 million linked to proof-of-concept, scaled deployment and final delivery during 2026. It targets up to 1,000-node deployments.
1. $10M SOW Awarded for qSpeed-Mine Platform
VisionWave secured a $10 million fixed-fee, milestone-based Statement of Work to develop its qSpeed-Mine cryptocurrency mining acceleration platform powered by the QuantumSpeed computational engine. The contract spans approximately 32 weeks and underpins the company’s first commercial execution of QuantumSpeed technology.
2. Milestone Payments and 2026 Revenue Recognition
The agreement stipulates an initial $350,000 payment upon contract execution, $1.0 million on proof-of-concept completion, $6.0 million for scaled deployment and operational validation, and $3.0 million upon final delivery and acceptance. Assuming on-time milestone achievement, the full $10 million will be recognized as revenue during calendar year 2026.
3. Deployment Scale and Performance Impact
qSpeed-Mine is designed for production-scale deployment across up to 1,000 nodes in distributed mining environments. By optimizing scheduling, orchestration and latency reduction, the platform aims to boost effective throughput and lower unit mining costs without hardware replacement.
4. Strategic Growth and Market Expansion Plans
VisionWave views this SOW as a commercial anchor for broader QuantumSpeed sales across AI/ML, defense and large-scale infrastructure markets. The company’s Solar Drone subsidiary is advancing drone cleaning solutions in Middle Eastern markets, and a $7.0 million strategic exchange for SaverOne positions its RF-based detection system for vehicle and security applications.