The post Public UK Oil Company Advances Gas-Powered Bitcoin Mining On-Site appeared on BitcoinEthereumNews.com.

Key Notes UK energy firm will use on-site gas generation for cryptocurrency mining without traditional grid dependency. Bitcoin network hashrate exceeded 1 ZH/s in August 2025, creating competitive conditions favoring low-cost operations. Union Jack shares gained 1% following the announcement, reflecting positive investor sentiment toward the strategy. Union Jack Oil plc, a UK-based onshore hydrocarbon production company, announced plans to utilize natural gas from its West Newton field to power on-site Bitcoin mining operations. The company holds a 16.665% stake in the West Newton discovery area, and it is working with joint venture partners and 360 Energy Inc., a Texas-based firm specializing in natural gas offtake and monetization through Bitcoin mining technology. The strategy involves using gas produced from existing wells to generate electricity on-site, thereby enabling cryptocurrency mining activities without reliance on the traditional power grid. This approach aims to create early cash flow and monetization benefits from gas reserves before the full-scale development of the gas field. Preliminary studies suggest the concept could yield attractive returns by converting stranded or uneconomic gas into Bitcoin mining revenue. Also in the press release, they mentioned that if this program is implemented successfully, they will consider a Bitcoin treasury strategy, which many public companies are adopting, following the lead of Strategy, formerly known as MicroStrategy. This move aligns with broader industry trends of integrating flare gas in energy production with digital asset mining. Bitcoin Network is Reaching a New High in Its Mining Activity In August 2025, mining on the Bitcoin network set new records for hashrate and mining difficulty, underscoring an increasingly competitive mining environment. The network’s hashrate recently peaked above 1 zettahash per second (ZH/s), a historic high demonstrating the intense computational work underpinning Bitcoin security. Mining difficulty has also reached all-time highs, forcing miners to continuously invest in…

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Filed under: News - @ August 7, 2025 11:24 pm