Reabold Resources, an investment firm focused on developing European gas projects, said it is considering establishing a gas-powered bitcoin. mining station in the north of England.
The London-based company is exploring the potential 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 from the company’s West Newton A well 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 UK government statement from late March, which said gas supplies will not be affected.
“Only around 1% of the UK’s gas supply in 2025 came from Qatar. We have no reason to expect it to be significantly different in 2026,” he said.
The Telegraph article said that Reabold’s West Newton gas field is so large that it could theoretically fuel the creation of 50,000 bitcoin tokens.
“A private gas supply means we can run a data center to mine bitcoin at a relatively low price,” said Sachin Oza, co-chief executive of Reabold Resources, which has a drilling license granted by the Environment Agency.
“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 firm said, “the significant onshore natural gas resource at the West Newton site in Yorkshire has 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 a bitcoin mining operation into a data center is that bitcoin mining is undergoing a transformation, with many companies shifting toward high-performance computing and supporting the artificial intelligence industry.
