Reabold Resources Tests Gas-Powered Bitcoin Mining in Yorkshire Pilot

The UK-based gas firm Reabold Resources is planning a small-scale Bitcoin mining pilot at its West Newton A well site in Yorkshire. The project, which will run alongside the development of the site for U.K. energy supply, aims to prove the concept of using gas-powered data centers for Bitcoin mining.

The company's co-CEO Sachin Oza told The Telegraph that access to a private gas supply would allow Reabold to operate a data center at low cost. 'Initially, this would help fund the further development of the gas field and prove the concept,' Oza said.

The West Newton field holds an estimated eight billion cubic meters of natural gas, enough to cover more than 10% of the U.K.'s annual demand. The site is being developed under a drilling license granted by the Environment Agency for limited, low-pressure fracking.