Union Jack Oil (UJO), a VK oil and gas agency listed in the UK, is investigating a new path to make money with its gas sources by turning to Bitcoin-Mijnbouw, according to August 7 rack.
According to the company, the move is aimed at using the natural gas of his West Newton site in East Yorkshire to generate electricity to feed crypto -my -construction activities.
Why Bitcoin -Mybouw?
The executive chairman of Union Jack, David Bramhill, expressed faith in the potential of the project and noted that the Bitcoin -Mijnbouw strategy could lead to the creation of a new Bitcoin Treasury strategy for the oil and gas company.
To achieve this, the company explained that Rathlin Energy and its joint venture partners, including Reabold sources, have signed a non-binding declaration of intent (LOI) with 360 Energy, a company that specializes in Texas that specializes in generating natural gas.
The agreement outlines a strategy for installing gas-driven electricity infrastructure and Bitcoin mining units directly at the production location.
The initiative is intended to use gas from the West Newton A and B Wells to drive onsite data centers. Speaking of these centers, Bramhill said:
“We continue to believe that this active material value contains, which can ultimately produce significant amounts of on-hore-carbon-poor sales gas in the important domestic natural gas market of the UK. West-Newton is estimated to be repairable 2C gas sources of nearly 200 billion cubic foot, according to an independent assessment in 2022.”
These centers will perform the “In-Field Computing” (IFC) system of 360 Energy, designed to convert raw gas into electricity for crypto-mining.
According to Union Jack, early production concepts such as this enable them to unlock value from existing wells without waiting for full field development. If it is successful, the model can be replicated with other nearby discoveries.
Mining problems rise
The Bitcoin mining plans from Union Jack come at an interesting time when Bitcoin Mining increases difficulty.
According to facts Cloverpool is expected to rise to a record high in more than 130 trillion on 9 August on 9 August.
Despite this milestone, the broader growth of mining activity seems to be slowing down.
According to insight From Blockware, the increase of the year to date in mining difficulty is only 16%. If this pace applies, 2025 could register as the slowest year of the growth of mining difficulties in the history of Bitcoin.
The delay is mainly attributed to ripening hardware options, infrastructure restrictions and the growing interest of data center operators in alternative sectors such as artificial intelligence.
Blockware suggested that this delay in mining difficulties is ultimately bullish for Bitcoin my workers, because it translates into less competition for the daily 450 BTC devoted.