Reabold Resources Confirms Interest in Bitcoin Mining Amid Criticism

Reabold Resources confirms interest in bitcoin mining amid criticism.

The UK-based investment firm Reabold Resources, known for its oil and gas project development, has confirmed its interest in exploring bitcoin mining at a new site.

The company plans to establish a small gas power plant at the new West Newton site in Yorkshire, England, to facilitate cryptocurrency mining. The project aims to demonstrate the potential to power larger data centres and other industrial facilities in the future, Reabold Resources highlighted.

Public Concerns Over the Project

The company’s statement was a response to an article in The Telegraph criticising its mining plans. Reabold Resources has secured a license to develop a shale field with estimated reserves of up to 8 million cubic meters of gas. This volume is sufficient to meet about 10% of the UK’s needs for “many years.” Theoretically, it allows for the extraction of up to 50,000 BTC, the newspaper calculated.

The development of the site has raised concerns among environmental organisations due to the use of hydraulic fracturing technology.

“Using this gas for bitcoin mining does not ensure energy security and offers 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,” stated Lorraine Inglis, a leader of one environmental group.

The Telegraph suggested that the project might raise questions among government officials, as the war in Iran threatens an energy resource shortage. Reabold Resources assured its commitment to the UK’s energy security, especially “amid significant geopolitical uncertainty.”

“Private gas supply will allow us to maintain a mining farm relatively inexpensively. Initially, it will help finance further development of the site and confirm the viability of the concept, thus becoming a precursor to a much larger data centre,” said co-CEO Sachin Oza.

Challenging Economic Context

The company plans to enter the bitcoin mining industry, albeit with a pilot project, amid a significant decline in the profitability of this business and active diversification of participants into the AI sector. This trend has already raised serious concerns within the community about the future security of the network.

According to Luxor CEO Nick Hansen, there are currently “no positive factors encouraging further investment in new mining enterprises.” He rated the level of concern for the industry at “six to seven points.”

However, British journalists, based on Reabold Resources’ previous activities, speculated that the company is highly likely to sell the site profitably after obtaining all the necessary permits for gas extraction and data centre construction.

Earlier, in the first quarter, public mining companies sold a record 32,000 BTC — more than in the entire year of 2025.

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