Overview
- Reabold Resources, which issued a clarification Monday, said any bitcoin mining would be a small pilot using early gas from the West Newton A well.
- The company said the Yorkshire field will still be developed for UK energy security and that a trial would not block future gas-to-grid or industrial supply routes.
- Executives pitched the pilot as a way to help fund further work and to show that on-site gas can power data centres, with a larger build only considered if tests succeed.
- West Newton is estimated at up to eight billion cubic metres of gas, and the site holds an Environment Agency licence for low-pressure well stimulation, a limited form of fracking allowed under current rules.
- Environmental campaigners and local councillors criticized burning new gas for crypto mining, while Reabold’s shares rose about 7% Monday after the company softened its messaging.