Union Jack Oil is extracting natural gas at West Newton to power Bitcoin mining operations, utilizing new technology to create early cash flow before scaling up.
The collaboration with 360 Energy and partners aims to establish a cryptocurrency mining system based on natural gas, opening up trends that combine traditional energy and digital technology in the energy industry in the UK.
MAIN CONTENT
Union Jack Oil is implementing Bitcoin mining using natural gas from the West Newton field.
360 Energy's In-Field Computing technology allows for cryptocurrency mining right at the gas well.
This strategy provides early cash flow and leverages undeveloped gas resources.
What is the plan for using natural gas to operate Bitcoin mining?
Union Jack Oil intends to use natural gas from the West Newton field to power mobile data centers specifically for Bitcoin mining, through 360 Energy's In-Field Computing (IFC) technology.
The initial implementation plan at the WNA-2 well, where IFC equipment will be installed to provide direct power to the cryptocurrency mining system. This strategy helps the company generate cash flow right from the early stages, before large-scale gas extraction occurs.
Rathlin's assessment indicates that this option is feasible and could yield attractive profits, while effectively utilizing gas wells that may not be used long-term.
“Cryptocurrency mining provides a significant opportunity for short-term value creation,” said David Bramhill, Executive Chairman of Union Jack Oil.
David Bramhill – Executive Chairman of Union Jack Oil, 2025
What does this mean for the energy and cryptocurrency sectors in the UK?
Although still a non-binding agreement with 360 Energy, Union Jack Oil and its partner are finalizing the necessary legal steps for official implementation.
The hybrid model of traditional gas mining combined with Bitcoin mining is still rare in the UK but more common in North America. This trend utilizes surplus or inaccessible gas to create distinctive value, helping to reduce surplus and improve economic efficiency.
Union Jack Oil holds nearly 17% of the West Newton PEDL183 license, and expanding into cryptocurrency will add revenue streams and reduce risks for operations amid energy price and cryptocurrency market volatility.
What challenges is Union Jack Oil facing?
Mr. Bramhill acknowledges that delays from regulators in the UK pose a significant challenge to getting the project operational.
However, recent positive signals regarding domestic energy policy create expectations that the project will soon receive approval. Therefore, this hybrid model could open up new avenues for onshore energy mining combined with digital technology.
“We hope that the trend of innovation and supportive policies will drive this project to success,” shared David Bramhill.
David Bramhill – Executive Chairman of Union Jack Oil, 2025
Frequently Asked Questions
What technology does Union Jack Oil use to mine Bitcoin?
The company uses In-Field Computing (IFC) technology from 360 Energy, allowing for the operation of Bitcoin mining data centers directly powered by natural gas.
When can this project start implementation?
The project is in a non-binding agreement stage and awaiting approval from regulators, with no official timeline yet.
Why did Union Jack Oil choose to mine cryptocurrency from natural gas?
This is a way to leverage underutilized surplus gas, generating quick cash flow before fully developing the gas field.
Will this model become popular in the UK?
Still quite new in the UK but developing popularity in North America, it has great potential when combining traditional energy with digital technology.
What are the benefits of mining Bitcoin from natural gas?
Helps increase the efficiency of gas usage, reduce waste, and create new revenue streams for energy companies.
Source: https://tintucbitcoin.com/bitcoin-khai-thac-bang-khi-anh/
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