UK Landfill Tied to Lost 8,000 Bitcoin Hard Drive Set to Close: Report
A landfill site in Newport, Wales, that has been the focus of a decade-long battle over a lost hard drive containing 8,000 Bitcoin is reportedly set to close in the 2025-26 financial year.
A Newport council spokesperson confirmed that the site, which has been in use since the early 2000s, is nearing the end of its operational life, BBC News reported on Feb. 9.
“The council is working on a planned closure and capping of the site over the next two years,” they stated.
Solar Farm Project Approved for Former UK Landfill Site
Plans are already in motion to repurpose part of the land, with approval granted for a solar farm in August.
The landfill gained notoriety due to James Howells, a local IT worker who claims that his former partner mistakenly discarded a hard drive in 2013, unaware that it contained 8,000 BTC he had mined in 2009.
With Bitcoin currently trading at around $96,000, the lost stash would now be worth approximately $768 million.
Howells fought a prolonged legal battle with Newport City Council, seeking permission to excavate the site in an effort to recover the drive.
He reportedly offered the council a share of the Bitcoin if successful, or compensation if denied the opportunity to search.
However, a judge dismissed his case in January, ruling that there was “no realistic prospect” of success at trial.
Despite Howells’ insistence that AI-driven technology could pinpoint the hard drive without disrupting the landfill, the council has consistently rejected excavation proposals.
James Howells threw away $750 million of bitcoin accidentally a decade ago and has been trying to recover the hard drive from a landfill ever since. Today, a judge has rejected his latest attempt to search through 110,000 tons of garbage for his digital gold. pic.twitter.com/douIDzDdQO
— Documenting ₿itcoin(@DocumentingBTC) January 11, 2025
In October, it cited environmental concerns, stating that such an operation would have a “huge negative impact on the surrounding area.”
The 8,000 BTC reportedly lost in Newport is part of a larger phenomenon of inaccessible Bitcoin.
Web3 executive Al Leong has estimated that up to 3 million BTC—approximately 13% of the total supply—could be permanently lost.
Tether CEO Warns Quantum Computing Could Unlock Inactive Bitcoin Wallets
Meanwhile, Tether CEO Paolo Ardoino has speculated that quantum computing could one day crack “lost wallets” and bring dormant Bitcoin back into circulation.
Quantum computing is an emerging technology capable of solving complex problems at atomic speeds, which traditional computers cannot handle.
As this technology advances, inactive Bitcoin wallets with no active security measures will become vulnerable, as there is no one to move or protect the funds.
Active Bitcoin wallets, however, will likely adopt quantum-resistant security measures once they become available.
Ardoino explained that Bitcoin holders who are still alive and have access to their wallets will move their funds into new “quantum-resistant addresses.”
The potential of quantum computing unlocking Satoshi Nakamoto’s estimated 1 million BTC has sparked debate.
Some analysts warn that such a development could put downward pressure on Bitcoin prices.
Last year, Chinese researchers claimed a significant breakthrough in the realm of encryption, stating that they have managed to crack algorithms commonly used in banking and cryptocurrency.
The team, led by Wang Chao from Shanghai University, utilized a quantum computer to breach these encryption methods.
The post UK Landfill Tied to Lost 8,000 Bitcoin Hard Drive Set to Close: Report appeared first on Cryptonews.
Read More
Cathie Woods’ Ark Invest ignores market downturn, adds $13.3M to Coinbase position
Analysts Baffled by Bitcoin: “It Shows Extraordinary Resilience” – They Explained Why
UK Landfill Tied to Lost 8,000 Bitcoin Hard Drive Set to Close: Report
A landfill site in Newport, Wales, that has been the focus of a decade-long battle over a lost hard drive containing 8,000 Bitcoin is reportedly set to close in the 2025-26 financial year.
A Newport council spokesperson confirmed that the site, which has been in use since the early 2000s, is nearing the end of its operational life, BBC News reported on Feb. 9.
“The council is working on a planned closure and capping of the site over the next two years,” they stated.
Solar Farm Project Approved for Former UK Landfill Site
Plans are already in motion to repurpose part of the land, with approval granted for a solar farm in August.
The landfill gained notoriety due to James Howells, a local IT worker who claims that his former partner mistakenly discarded a hard drive in 2013, unaware that it contained 8,000 BTC he had mined in 2009.
With Bitcoin currently trading at around $96,000, the lost stash would now be worth approximately $768 million.
Howells fought a prolonged legal battle with Newport City Council, seeking permission to excavate the site in an effort to recover the drive.
He reportedly offered the council a share of the Bitcoin if successful, or compensation if denied the opportunity to search.
However, a judge dismissed his case in January, ruling that there was “no realistic prospect” of success at trial.
Despite Howells’ insistence that AI-driven technology could pinpoint the hard drive without disrupting the landfill, the council has consistently rejected excavation proposals.
James Howells threw away $750 million of bitcoin accidentally a decade ago and has been trying to recover the hard drive from a landfill ever since. Today, a judge has rejected his latest attempt to search through 110,000 tons of garbage for his digital gold. pic.twitter.com/douIDzDdQO
— Documenting ₿itcoin
In October, it cited environmental concerns, stating that such an operation would have a “huge negative impact on the surrounding area.”
The 8,000 BTC reportedly lost in Newport is part of a larger phenomenon of inaccessible Bitcoin.
Web3 executive Al Leong has estimated that up to 3 million BTC—approximately 13% of the total supply—could be permanently lost.
Tether CEO Warns Quantum Computing Could Unlock Inactive Bitcoin Wallets
Meanwhile, Tether CEO Paolo Ardoino has speculated that quantum computing could one day crack “lost wallets” and bring dormant Bitcoin back into circulation.
Quantum computing is an emerging technology capable of solving complex problems at atomic speeds, which traditional computers cannot handle.
As this technology advances, inactive Bitcoin wallets with no active security measures will become vulnerable, as there is no one to move or protect the funds.
Active Bitcoin wallets, however, will likely adopt quantum-resistant security measures once they become available.
Ardoino explained that Bitcoin holders who are still alive and have access to their wallets will move their funds into new “quantum-resistant addresses.”
The potential of quantum computing unlocking Satoshi Nakamoto’s estimated 1 million BTC has sparked debate.
Some analysts warn that such a development could put downward pressure on Bitcoin prices.
Last year, Chinese researchers claimed a significant breakthrough in the realm of encryption, stating that they have managed to crack algorithms commonly used in banking and cryptocurrency.
The team, led by Wang Chao from Shanghai University, utilized a quantum computer to breach these encryption methods.
The post UK Landfill Tied to Lost 8,000 Bitcoin Hard Drive Set to Close: Report appeared first on Cryptonews.
Read More
Cathie Woods’ Ark Invest ignores market downturn, adds $13.3M to Coinbase position