PsiQuantum to Build Million-Qubit Quantum Computing Facility, Scientists Say Could Break Bitcoin

**March 6th: PsiQuantum Launches 1M-Qubit Fault-Tolerant Quantum Facility in Chicago** PsiQuantum has broken ground on a fault-tolerant quantum computer facility in Chicago, aiming for 1 million qubits using a photonic quantum computing approach. The project leverages mature semiconductor, fiber optic, and cooling technologies to enable scalability. Construction is progressing rapidly: 500 tons of steel framing were installed in just days. The first phase is expected to be partially completed around 2027, with full operation targeted for 2028. The facility’s computing power will match that of billions of traditional computers, primarily supporting next-generation AI supercomputing. Encryption experts are closely monitoring the facility’s potential to crack Bitcoin. PsiQuantum co-founder Terry Rudolph has explicitly stated the company has no plans to use quantum computing to target Bitcoin, noting its scale is far too large to carry out such covert actions. With quantum threat discussions ramping up lately, the Bitcoin community has been debating a hard fork to mitigate risks. Currently, the world’s largest quantum computer has just 6,100 qubits—nowhere near practical thresholds—posing minimal short-term threat to Bitcoin.