Union Jack Oil, in a move that screams “midlife crisis,” teams up with 360 Energy to mine Bitcoin from UK gas wells. First stop: West Newton, because why not turn fossil fuels into digital gold? 💰🛢️
So, Union Jack Oil is done with just pumping oil and gas. Now they’re like, “Hey, let’s turn this gas into Bitcoin!” 🤷♂️ Teaming up with some Texas cowboys (360 Energy), they’re setting up shop in East Yorkshire. West Newton, a gas site that’s probably seen better days, is their playground. Early monetization? Sure, why wait for the gas to actually do something useful? 🚀
Union Jack’s Bitcoin Fever Dream
Union Jack Oil is all in on this Bitcoin mining thing at West Newton. They’re turning gas into electricity, which then powers data centers to mine Bitcoin. It’s like a science fair project gone wild. Rathlin Energy, the operator, is leading the charge, and they’ve got Reabold Resources and 360 Energy in the mix. Because, you know, nothing says “future” like Texas tech in Yorkshire. 🌭🤠
Rathlin’s study says this could actually make money. Shocking, right? If it works, gas from the WNA-2 well will kick things off. Later, they might expand to other gas finds in the area. Because why stop at one well when you can have a whole crypto empire? 🏰
Oil Meets Crypto: Union Jack’s Midlife Crisis
Union Jack’s move is all about quick cash and looking cool. Regulatory red tape has been holding up the gas field development, so they’re like, “Screw it, let’s mine Bitcoin instead.” 🤑 Using 360 Energy’s IFC tech, they’re capturing gas that would otherwise be wasted and turning it into digital currency. It’s recycling, but make it crypto. ♻️
If this works, it could change how we see onshore UK fields. Union Jack’s even thinking about a Bitcoin Treasury strategy. Because nothing says “we’re serious” like holding Bitcoin. It’s a wild pivot from old-school oil to a crypto-hybrid future. 🚀
From Yorkshire to the Blockchain: A Wild Ride
West Newton’s got a ton of gas-nearly 200 billion cubic feet. But without full development, it’s just sitting there. Union Jack’s plan? Extract, burn, mine. Simple, right? 🤔 The partnership with 360 Energy shows how energy firms are getting desperate creative. Instead of waiting years to develop gas fields, they’re jumping on the crypto train. Choo choo! 🚂
David Bramhill, Union Jack’s big boss, is all about adapting. He says this mining move fits their UK-US vibe. Plus, it could put them in the cool kids’ club of energy firms with crypto portfolios. Because who doesn’t want to be a crypto baron? 🧑🤵♂️
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2025-08-08 00:57