In rather surprising news, Palantir Technologies has clarified that it is not involved with CoinFac Limited, a technology company, that recently announced its plans to introduce the next generation quantum computing technology into cryptocurrency mining, allowing current Bitcoin and Altcoin miners to enjoy a 4,000 times speed increase.

In the press release published earlier this week, CoinFac had stated that it was established this year in Hong Kong and is owned by Palantir Technologies Incorporation, a private American software and services company, specializing in data analysis and technological software research.

The “About Us” page on CoinFac’s website also states the same and also includes an image of Palantir Technologies Incorporation co-founder Peter Thiel. The web page mentions Mike Howzeris as the founder and CEO of CoinFac, adding that Howzeris is a former executive at Google, Oracle and Intel.

However, in an email to CoinDesk, Palantir representative Matt Long said that CoinFac’s claim that it is owned by Palantir is “inaccurate”.

"Palantir has no affiliation," Long told CoinDesk.

Headquartered in Palo Alto, Palantir builds software that connects data, technologies, humans and environments. It is focused on creating the world’s best user experience for working with data, one that empowers people to ask and answer complex questions without requiring them to master querying languages, statistical modeling, or the command line. It builds platforms for integrating, managing, and securing data on top of which it layers applications for fully interactive human-driven, machine-assisted analysis.