Reabold Resources, an investment company focused on developing European gas projects, said it is considering establishing a gas-powered bitcoin mining station in northern England.
The London-based company is exploring the potential to deploy a small power plant as a pilot project 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 site will be used to demonstrate the ability to use the gas to power data center development, the firm 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 and the US and Israel.
Concerns about potential gas shortages are unfounded, according to a UK government statement in 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 that would be significantly different in 2026,” it said.
The Telegraph’s article said that Reabold’s gas field in West Newton is so large that it could theoretically power the creation of 50,000 bitcoin tokens.
“A private gas supply means we can run a data center to mine bitcoin relatively cheaply,” said Sachin Oza, co-CEO of Reabold Resources, which holds a drilling license from the Danish Environmental Protection Agency.
“Initially, this would help fund the further development of the gas field and prove the concept – meaning it could be 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 be developed for the benefit of UK energy security, which is particularly important at this time of significant geopolitical uncertainty.”
Reabold’s plan for a bitcoin mining operation to expand into a data center comes bitcoin mining is undergoing a transformation, with many companies redirecting to high-performance computing and support for the AI industry.
