August 7, 2025
5 min read
Nate Kostar
Union Jack Oil plans to convert stranded gas from West Newton into electricity for Bitcoin mining, pioneering UK’s oil-to-crypto monetization.
Union Jack Oil, a publicly traded UK energy company, has announced plans to convert natural gas from its West Newton site into electricity to power Bitcoin mining. This move is seen as one of the country’s first "oil-to-crypto" monetization projects, potentially generating early cash flow from wells that would otherwise remain undeveloped. The project is a collaboration with Rathlin Energy and Texas-based 360 Energy, a company specializing in converting stranded or flared gas into power for on-site data centers.
Through a non-binding letter of intent, the companies intend to deploy 360 Energy's In-Field Computing technology to commence Bitcoin mining directly at the West Newton A site, pending regulatory approvals. If successful, this initiative could lead Union Jack to adopt a new Bitcoin Treasury strategy, as stated by Executive Chairman David Bramhill.
Originally published at Cointelegraph on Thu, 07 Aug 2025
West Newton: Discovered but Still Undeveloped
Union Jack Oil acquired its stake in West Newton in 2019. Following operator Rathlin Energy's gas discovery, subsequent drilling confirmed it as one of the largest onshore gas discoveries in the UK. However, development has been stalled due to planning delays and regulatory uncertainty, hindering the necessary infrastructure to bring the gas to market. Bramhill noted that "regulatory uncertainty has unduly hampered progress," impacting projects like West Newton despite their commercial viability. By utilizing the gas on-site for Bitcoin mining, Union Jack aims to generate revenue without being tied to traditional, lengthy development timelines. Bramhill described the venture as "innovative" and offering "strong scope for a sustainable return."A Shift in How Energy Is Monetized
This initiative by Union Jack Oil reflects a broader trend among energy companies to monetize underutilized resources, particularly stranded or flared natural gas. The strategy involves converting gas into electricity on-site to power Bitcoin mining rigs, bypassing the costs and delays associated with grid connections or pipeline construction. Companies like 360 Energy and Crusoe are instrumental in developing modular and scalable solutions for this approach. This model is gaining traction globally, with examples including ConocoPhillips' pilot program in North Dakota to use excess gas for Bitcoin mining instead of flaring it, Tecpetrol in Argentina utilizing leftover gas for mining operations, and Canadian company AgriFORCE launching a similar venture in Alberta.Originally published at Cointelegraph on Thu, 07 Aug 2025