Union Jack Oil Plans Bitcoin Mining with Natural Gas in the UK
- Company will use natural gas for bitcoin mining
- Project may include treasury strategy with BTC
- Mining infrastructure will be implemented in phases
Union Jack Oil, a UK-listed oil and gas company, announced plans to use natural gas extracted from its facility in West Newton, East Yorkshire, as a power source for Bitcoin mining. The proposal involves converting the gas into electricity on-site, powering modular data centers specialized for this purpose.
🚨🔥 Innovation meets energy! @UnionJackOilplc is exploring crypto mining at West Newton using gas from its UK onshore wells! 🇬🇧⛽➡️💻
✅ New LOI signed with Texas-based 360 Energy 🤝
✅ Natural gas → electricity → Bitcoin ⚡🪙
✅ Early monetization while full-field plans… pic.twitter.com/oMc3LhV3W0— David Burton ⭐️⭐️ (@DavidBurton1971) August 7, 2025
The initiative will be implemented in partnership with 360 Energy, an American provider of gas monetization solutions, and is part of a joint venture operated by Rathlin Energy. The companies have signed a non-binding agreement and are awaiting regulatory approval to formalize a definitive agreement with the same terms.
According to a statement from Union Jack, the strategy offers an alternative way to generate short-term value from underutilized assets, especially given regulatory delays that hinder traditional gas development routes. The feasibility study indicated that utilizing untapped wells can yield "very attractive returns," even in fields considered economically unviable.
The site where the operation will take place contains nearly 200 billion cubic feet of recoverable gas, according to an independent assessment. The company claims that bitcoin mining will enable earlier production and cash flow, reducing the time to return on investment.
Following the announcement, Union Jack Oil shares rose 1,5% to £5,08. Still, the stock has fallen more than 44% this year, according to TradingView data.
In addition to its mining operations, the company is considering adopting bitcoin as part of its treasury strategy if initial results are positive. "We continue to believe this asset has substantial value, which could eventually generate significant volumes of low-carbon gas for onshore sales in the important UK domestic natural gas market," said David Bramhill, CEO of Union Jack.
The executive reinforced that the onshore energy sector needs to adopt innovative approaches to remain competitive, and sees bitcoin mining as a viable solution to unlock value in the company's projects.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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