PsiQuantum Constructs One Million-Qubit Facility

PsiQuantum has begun construction on a Chicago facility aiming to host one million qubits, the company announced Thursday after raising $1 billion in September. The project, developed with Nvidia and designed to be fault-tolerant, targets commercial applications from AI supercomputing to molecular simulation, but experts warn such scale could threaten current cryptographic systems. CoinShares estimates about 10,230 BTC (roughly $728.2 million) may be vulnerable, prompting calls for quantum-resistant defenses.