Reabold eyes Bitcoin mining at West Newton gas field

Reabold Resources confirmed it is exploring using natural gas flows from its West Newton site in Yorkshire to power a small-scale Bitcoin mining operation. Shares in the company (RBD) rose about 7.3% on the London Stock Exchange after the company issued a clarification on Monday.

Reabold co-CEO Sachin Oza told reporters a private gas supply could enable a low-cost data center to mine Bitcoin. He said initial mining would help fund further development of the gas field and prove the concept, which could precede a larger data center at the site.

In a formal statement issued Monday, Reabold wrote that the “significant onshore natural gas resource at the West Newton site in Yorkshire has and will continue to be progressed for the benefit of U.K. energy security” and that it will engage local and national stakeholders to determine the best development pathway. The company added initial gas flows could be used to power a small Bitcoin mining facility to demonstrate the feasibility of data center development and that such a project would not preclude future gas-to-grid or industrial supply options.

Lorraine Inglis, an anti-fracking campaigner, criticized the proposal, saying “using that gas to power Bitcoin mining is not energy security or any genuine public benefit, but the deliberate burning of fossil fuels for one of the most energy-intensive and socially questionable activities at a time of high bills and missed climate targets.”

Reabold described the plan as preliminary and narrowly focused. Executives noted the site would be developed in phases, starting with a small facility to test demand and technical feasibility before any larger build-out. The firm said it will continue consultations with regulators, local communities and other stakeholders before progressing any data center or gas-to-grid plans.

The proposal comes as some publicly traded crypto miners have shifted business models away from traditional Bitcoin mining to providing compute power for artificial intelligence workloads; one large miner recently rebranded and exited its Bitcoin operations to pursue AI opportunities. Reabold positioned the Bitcoin option as one possible pathway for West Newton rather than a final commitment.

Shares in Reabold rose after the clarification was issued Monday. The company added it will keep evaluating options for West Newton and provide updates as plans develop.