Union Jack Oil teams with 360 Energy to mine Bitcoin from UK gas wells, starting at West Newton for early crypto monetisation.
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Union Jack Oil is moving beyond traditional hydrocarbon production. It’s teaming up with a Texas firm to turn gas into Bitcoin. The first location: West Newton, a known gas site in East Yorkshire. Early steps are underway, and the model could bring revenue before any full gas development. It’s crypto mining, right from a wellhead.
Union Jack Eyes Bitcoin as New Monetisation Route
Union Jack Oil has confirmed plans to explore Bitcoin mining at its West Newton gas site. The company, along with its partners, is working on a concept to turn locally sourced natural gas into electricity. That electricity would then power on-site data centers that mine Bitcoin.
The project is being driven by Rathlin Energy, operator of the West Newton site. In partnership with Reabold Resources, they’ve signed a non-binding agreement with Texas-based 360 Energy. The firm brings experience in converting stranded or low-value gas into power for computing.
Rathlin’s early feasibility study pointed to strong returns. If greenlit, gas from the WNA-2 well will fuel the first phase. Later, the project could expand to cover more gas discoveries in the area.
Crypto Meets Oil: Union Jack’s Strategic Shift
Union Jack’s play is about early revenue and new thinking. Regulatory hurdles have slowed full development of the West Newton gas field. By switching gears, the company hopes to unlock value without waiting for wider approval.
This model leans on 360 Energy’s IFC tech. It’s built to capture gas that might otherwise be flared or remain unused. That gas powers small modular units hosting Bitcoin miners, essentially turning untapped gas into digital currency.
If successful, the move could shift how onshore UK fields are viewed. Union Jack is even considering a future Bitcoin Treasury strategy. It’s a sharp pivot from old-school oil and gas to a crypto-hybrid path.
From East Yorkshire to the Blockchain
West Newton’s estimated gas resources are large, nearly 200 billion cubic feet, according to prior reports. But without full-scale development in place, that value has stayed mostly on paper. Union Jack wants to change that, starting with the basics: extract, burn, mine.
The partnership with 360 Energy reflects a broader shift in how energy firms think. Instead of waiting years to develop gas fields, they’re tapping into faster, digital routes to monetisation. It also comes at a time when UK regulators are rethinking how to support domestic energy innovation.
David Bramhill, Union Jack’s Executive Chairman, sees opportunity in adapting. He said the mining move fits the firm’s growing UK-US footprint. It could also put Union Jack among a new wave of energy firms adding crypto to their portfolio.
