The UK-based investment firm Reabold Resources, which specializes in oil and gas projects, has confirmed its consideration of Bitcoin mining at a new site.
The company plans to set up a small gas power plant at the West Newton site in Yorkshire, England, to facilitate cryptocurrency mining. This project aims to demonstrate the potential to power larger data centers and other industrial facilities in the future, according to Reabold Resources.
Project Raises Public Concerns
The company's statement was a response to an article in The Telegraph, which criticized its mining plans. Reabold Resources has obtained a license to develop a shale gas field with estimated reserves of up to 8 million cubic meters of gas, sufficient to meet about 10% of the UK's needs for many years. Theoretically, this could yield up to 50,000 BTC, as calculated by the newspaper.
The development has raised concerns among environmental organizations due to the use of hydraulic fracturing technology.
“Using this gas for Bitcoin mining does not ensure energy security and provides no real benefit to society; it is a deliberate burning of fossil fuels for one of the most energy-intensive and socially questionable activities amid high utility bills and unmet climate goals,” said Lorraine Inglis, leader of one environmental group.
The Telegraph noted that government officials might raise questions about the project, especially given the potential energy resource shortages due to the war in Iran. Reabold Resources assured its commitment to the UK's energy security, particularly “in the face of significant geopolitical uncertainty.”
“Private gas supply will allow us to maintain the mining farm at a relatively low cost. Initially, it will help finance further development of the field and confirm the viability of the concept, thus paving the way for a much larger data center,” said co-CEO Sachin Oza.
Challenging Economic Environment
The company plans to enter the Bitcoin mining industry, albeit with a pilot project, amid a significant decline in profitability in this sector and active diversification among participants into AI. This trend has already raised serious concerns within the community regarding the future security of the network.
According to Luxor CEO Nick Hansen, there are currently “no positive factors encouraging further investments in new mining ventures.” He rated the level of concern for the industry at “six or seven out of ten.”
However, British journalists speculated that based on Reabold Resources' previous activities, the company is likely to profit from selling the site after obtaining all necessary permits for gas extraction and data center construction.
It is worth noting that in the first quarter, public mining companies sold a record 32,000 BTC—more than in all of 2025.