According to Cointelegraph, Union Jack Oil, a publicly traded UK energy company, has unveiled plans to convert natural gas from its West Newton site into electricity for Bitcoin mining. This initiative could potentially become one of the UK's pioneering "oil-to-crypto" monetization projects. The company aims to generate early cash flow from wells that would otherwise remain undeveloped, as detailed in an operations report released on Thursday.
The project is being developed in collaboration with Rathlin Energy and Texas-based 360 Energy, which specializes in transforming stranded or flared gas into power for on-site data centers. The companies have signed a non-binding letter of intent to deploy 360’s In-Field Computing technology to commence Bitcoin mining directly at the West Newton A site, pending regulatory approvals. If successful, Union Jack Oil may also introduce a new Bitcoin Treasury strategy, as noted by Executive Chairman David Bramhill.
Union Jack Oil acquired its stake in West Newton in 2019 after Rathlin Energy discovered gas at the site. Subsequent drilling positioned it among the largest onshore gas discoveries in the UK. However, development has been stalled due to planning delays and regulatory uncertainty, hindering the necessary infrastructure to bring the gas to market. Bramhill highlighted that regulatory uncertainty has significantly impeded progress, attributing the delays to perception issues despite the site's commercial potential.
Instead of waiting for comprehensive approvals and infrastructure, Union Jack Oil plans to utilize the gas on-site to power Bitcoin mining rigs, thereby generating early revenue without depending on traditional development timelines. Bramhill described the Bitcoin mining venture as "innovative" with "strong scope for a sustainable return," emphasizing the need for onshore developers and producers to think creatively to achieve growth.
This mining initiative reflects a broader trend among energy companies reconsidering how to monetize underused resources. Many oil and gas firms are exploring Bitcoin mining to capitalize on stranded or flared gas that would otherwise be wasted. The approach involves converting gas into electricity on-site to power mining rigs, circumventing the delays and costs associated with grid connections or pipeline construction. Companies like 360 Energy and Crusoe are working to make this model modular and scalable.
Similar strategies are being implemented elsewhere. In North Dakota, ConocoPhillips launched a pilot program to supply excess gas to Bitcoin miners instead of flaring it. In Argentina, Tecpetrol began using leftover gas from drilling operations to run mining rigs due to environmental release limits. In June 2025, Canadian company AgriFORCE initiated an operation in Alberta, utilizing stranded natural gas to power 120 Bitcoin mining rigs, with plans for expansion to additional sites.
