Reabold Resources plc (AIM:RBD) said it is exploring using gas from its West Newton site in Yorkshire to power a small-scale bitcoin-mining facility following an upcoming well workover, framing the test as a route to demonstrate how site gas could fuel datacentre developments.
"The Company is exploring the potential to deploy a small-scale power generation facility at the West Newton A well site to mine bitcoin from initial flows of gas following the upcoming well workover, to demonstrate the ability to use West Newton gas to fuel datacenter developments that will be crucial to the future UK economy," Reabold said.
The company said a successful pilot could be scaled into a larger on-site data centre, but added that such a path "would not preclude the potential for gas to grid, or gas to industrial consumption development options."
Reabold also stressed it will continue stakeholder engagement at local and national levels and reiterated its strategic aim to develop the West Newton onshore gas resource "for the benefit of UK energy security." The group said it remains committed to facilitating outcomes that benefit all stakeholders.
