UK Gas Field to Support Bitcoin Mining Instead of Energy Supply
The West Newton gas field near Hull, capable of supplying 10% of the UK's annual gas demand, will be used for Bitcoin mining. Reabold Resources plans to construct a gas-fired power station for this purpose, despite environmental concerns and opposition to new gas field development.
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Reabold Resources intends to utilize the West Newton gas field for Bitcoin mining, which could produce approximately 50,000 Bitcoins. This decision comes despite the field's potential to satisfy a significant portion of the UK's gas demand, raising concerns among environmentalists and local councils.
The company has secured a drilling license that permits a lower-pressure fracking method, which does not involve full-scale fracking as previously banned by Energy Secretary Ed Miliband due to safety issues. Reabold emphasizes that this initiative could demonstrate the use of local gas to support future data center developments, potentially benefiting the UK's energy security. The implications of prioritizing cryptocurrency mining over traditional energy supply may spark further debate on energy resource management.
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