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Reabold Resources has clarified that it is only exploring small-scale bitcoin mining at its UK gas site, after reports suggested the company was preparing a broader pivot toward crypto operations. The firm said its primary focus remains domestic energy supply.
Reabold moved to temper speculation that it would prioritize bitcoin mining over developing its West Newton gas field in Yorkshire. The company said it remains committed to progressing the field to support UK energy security, while only assessing a limited, early-stage use of gas to power bitcoin mining.
The clarification followed a weekend report by The Telegraph, which indicated Reabold could use gas from the site to fuel a large-scale mining operation.
Reabold said the West Newton field, located near Hull, is estimated to hold up to eight billion cubic meters of gas. The company noted that the resource could potentially cover more than 10% of Britain’s energy demand, while emphasizing that its energy focus has not changed.
In its statement, Reabold said: “The significant onshore natural gas resource at West Newton has and will continue to be progressed for the benefit of UK energy security,” citing ongoing geopolitical uncertainty and the need for domestic supply.
The firm confirmed it is assessing the feasibility of a small gas-fired power facility at the site. Under the initial plan, early gas flows would be used to generate electricity for a data center intended to mine bitcoin on a limited scale.
Reabold described the project as a proof of concept rather than a strategic shift. It said any mining activity would be aimed at supporting early development of the gas field and could provide an additional revenue stream before full-scale production begins.
The company added that success at a small scale could enable broader data center development later. It also stressed that the plan would not rule out other options, including supplying gas to the national grid or to nearby industrial users.
The proposal has drawn criticism from environmental groups, particularly because the site is associated with fracking. Opponents argue that using fossil fuels to power energy-intensive crypto mining undermines climate goals and provides limited public benefit.
Reabold said it will continue engaging with stakeholders to determine the most appropriate development path for the site.
The situation reflects a wider trend of energy producers exploring bitcoin mining as a way to monetize stranded or early-stage energy resources. By converting gas into electricity on-site, companies can generate revenue while traditional distribution infrastructure is still being developed.
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