Reabold Tests Bitcoin Mining Powered by UK Gas at West Newton?

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Reabold Explores <a href="https://bbg-news.com/btc-usd/">Bitcoin</a> Mining Using UK Gas Field at West Newton

Key Highlights

  • Reabold is exploring using gas from its West Newton site to power Bitcoin mining through a small test setup.
  • The project could act as a trial for building larger data centers if the model works, while still keeping gas supply options open.
  • The plan has faced environmental criticism due to concerns about fossil fuel use and Bitcoin’s high energy demand.

Reabold Resources, a British company that invests in oil and gas, issued a statement on Monday regarding its West Newton gas project in Yorkshire, following a recent news report.

The report details the firm’s exploration of using gas to power Bitcoin mining, while prioritizing the UK’s energy needs.

Bitcoin mining powered by gas energy

The West Newton site, situated close to Hull in northern England, is a significant gas field. The company currently holds a permit from the Environment Agency enabling a limited amount of low-pressure fracking.

Estimates suggest the site contains as much as eight billion cubic meters of gas – enough to potentially meet over 10% of the UK’s energy requirements, according to The Telegraph. The report also indicated the company might build a small power plant fueled by this gas to generate electricity specifically for Bitcoin mining.

According to co-CEO Sachin Oza, having their own gas supply will allow the company to mine Bitcoin at a lower cost. He believes this could fund initial development and help them determine if the project is viable for future expansion.

Testing small-scale mining as a first step

Reabold released a statement clarifying their plans for the West Newton gas field. They emphasized that development will primarily focus on boosting the UK’s energy supply, which is particularly important given current global instability. They are also considering a small-scale power system at the West Newton A site that could potentially use gas produced early in the process to power Bitcoin mining, but only after necessary work on the well is completed.

The company explained that this is a trial to see if gas from the location can be used to run data centers in the future. Reabold stated that a successful trial could pave the way for a bigger data center project at the same location.

Climate advocate concerns

Environmental groups have voiced concerns about the plan. Some activists believe that powering Bitcoin mining with gas could increase its negative effects on the climate.

Lorraine Inglis, an activist with an anti-fracking group in southern England, explained to The Telegraph that using natural gas to power Bitcoin mining isn’t a step towards energy security or a public good. She argues it’s simply burning fossil fuels for an extremely energy-intensive and ethically problematic activity, especially when people are struggling with high energy bills and climate goals aren’t being met.

Broader context

Bitcoin mining requires significant energy because it relies on computers running constantly, which also need cooling. This makes it a costly and energy-intensive process compared to most other online activities.

According to The Telegraph, the West Newton oil field might generate enough energy to ‘mine’ up to 50,000 Bitcoins, currently valued at about £2.7 billion. However, the report doesn’t detail how this would be done or when it might happen.

Reabold is committed to collaborating with everyone involved and finding the best path forward for the project’s future.

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2026-04-20 21:57