Reabold Resources plc is continuing to investigate the possibility of mining Bitcoin to finance gas production at the West Newton joint venture in East Yorkshire.
SCALE
The company first raised the idea in August 2025 when the JV also signed a non-binding letter of intent with Texas-based 360 Energy for potential Bitcoin mining.
Operations at West Newton are targeting gross recoverable 2C gas resources of almost 200 billion cubic feet, with “further prospective resources” within PEDL183.
Reabold today clarified its position, stating that, following an upcoming well workover, the JV could “deploy a small-scale power generation facility” at the West Newton A well site to mine cryptocurrency from initial flows of gas.
The move would “demonstrate the ability to use West Newton gas to fuel datacenter [sic] developments that will be crucial to the future UK economy”.
“Successful implementation of such a project could allow for the development of a larger scale data centre at site, which would not preclude the potential for gas to grid, or gas to industrial consumption development options,” added the company
“The significant onshore natural gas resource at the West Newton site in Yorkshire has and will continue to be progressed for the benefit of UK energy security, which is particularly important at this time of significant geopolitical uncertainty.
“In addition, Reabold will continue to engage with all stakeholders, both locally and nationally, to ensure the optimal development pathway for West Newton is achieved.”
The JV includes operator Rathlin Energy (UK) Ltd with a 66.7% interest, Reabold holds a 69.9% economic interest through its 79.8% shareholding in Rathlin and a 16.665% direct licence interest.
Union Jack Oil plc owns a 16.665% working interest.