Reabold Resources, an investment company focused on developing European gas projects, said it plans to create a gas-powered bitcoin. mining station in the north of England.
The London-based company is exploring the possibility of deploying a small power plant as a pilot for future data center developments that are “crucial to the future UK economy”, it said in a statement on Monday.
Bitcoin production at the company’s West Newton A well site will be used to demonstrate the ability to use the gas to power data center development, the company said. The announcement follows the publication of a Telegraph article criticizing the plan at a time when the country could face gas shortages due to the war between Iran, the United States and Israel.
Concerns about a possible gas shortage are unfounded, according to a British government statement released at the end of March, which said gas supplies would not be affected.
“Only around 1% of the UK’s gas supply in 2025 came from Qatar. We have no reason to expect this to be materially different in 2026,” he said.
The Telegraph article states that Reabold’s West Newton gas field is so large that it could theoretically enable the creation of 50,000 Bitcoin tokens.
“A private gas supply means we can run a data center to mine bitcoin at relatively low cost,” said Sachin Oza, co-CEO of Reabold Resources, which has an Environment Agency drilling license.
“Initially, this would help fund further development of the gas field and prove the concept, meaning it could become the precursor to a much larger data centre. »
But, the company said, “the significant onshore natural gas resource at the West Newton site in Yorkshire has progressed and will continue to progress to the benefit of the UK’s energy security, which is particularly important at this time of significant geopolitical uncertainty”.
Reabold’s plan to expand Bitcoin mining to a data center comes as Bitcoin mining is undergoing a transformation, with many companies moving toward high-performance computing and support for the AI industry.
