UK gas-investment firm weighs bitcoin mining, draws criticism
Reabold Resources’ gas field is so large it could theoretically mine 50,000 BTC, local media said. The firm said it will test bitcoin mining before pivoting to data centers.
What to know:
- Reabold Resources is considering a pilot gas-powered bitcoin mining station at its West Newton A well site in northern England to showcase how its gas reserves could fuel future data centers.
- The company says bitcoin mining would initially help finance further development of the large onshore gas field and serve as a proof of concept for a potentially much larger data-center operation.
- Reabold’s plan drew criticism amid concerns about U.K. gas supplies, but the government has said such concerns are unfounded, and the firm maintains the field will primarily support U.K. energy security as bitcoin miners increasingly pivot toward broader computing and AI services.
Bitcoin production from the company’s West Newton A well site will be used to demonstrate the ability to use the gas to fuel data-center developments, the firm said. The announcement follows publication of a Telegraph article criticizing the plan at a time when the country could face gas shortages because of the war between Iran and the U.S. and Israel.
Concerns of potential gas shortage are unfounded according to a U.K. government statement in late March, which said gas supply will not be affected.
“Only about 1% of the U.K.’s gas supply in 2025 came from Qatar. We have no reason to expect it would be significantly different in 2026,” it said.
The Telegraph’s article said Reabold’s West Newton gas field is so large it could theoretically power the creation of 50,000 bitcoin tokens.
