U.S. Department of Commerce Allocates Up to $100 Million to Three Quantum Computing Companies

The U.S. Department of Commerce has allocated up to $100 million each to three quantum computing companies—Rigetti, D-Wave, and Quantinuum—through the CHIPS Act, totaling $300 million, and will hold minority stakes in the companies. This funding will be used to advance the research and development of hardware, manufacturing, and error correction systems for fault-tolerant quantum computers. Meanwhile, Ethereum has set a deadline of December 2029 for its execution layer, consensus layer, and data layer to achieve quantum resistance; Bitcoin developers are advancing two post-quantum signature migration proposals, BIP-360 and BIP-361, with the industry believing that a viable migration path must be established before 2029. Currently, no quantum computer poses a real threat to existing cryptographic systems, but approximately 1 million Bitcoins have had their public keys exposed on-chain, which could become stranded assets if migration is delayed.

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