Bitcoin News Today: UK’s Union Jack Oil to Mine Bitcoin Using Stranded Gas at Undeveloped Well Site

Key Takeaways:Union Jack Oil plans to use stranded natural gas to power Bitcoin mining at its West Newton site.Project launched in partnership with Rathlin Energy and Texas-based 360 Energy.Could become one of the UK’s first public companies with a Bitcoin treasury.Strategy aims to monetize stalled energy assets amid planning delays and regulatory uncertainty.Follows global trend of energy firms converting flared or unused gas into BTC.Union Jack Oil, a UK-based publicly traded energy company, has unveiled plans to launch a Bitcoin mining operation powered by stranded natural gas, becoming one of the first in the country to pursue an “oil-to-crypto” monetization strategy.In an operational update on Thursday, the firm said it intends to convert natural gas from its West Newton A site into electricity for on-site Bitcoin mining. The project is being developed in partnership with Rathlin Energy and Texas-based 360 Energy, which specializes in transforming underutilized or flared gas into power for decentralized data centers.Under a non-binding letter of intent, the partners plan to deploy 360’s In-Field Computing technology, subject to regulatory approvals, to mine Bitcoin directly from the wellhead — bypassing the need for costly infrastructure or grid connection.“Onshore developers and producers have been forced to think outside the box to make progress and deliver growth,” said David Bramhill, Executive Chairman of Union Jack Oil. He described the mining project as “innovative” with “strong scope for a sustainable return.”Unlocking Cash Flow from Undeveloped Gas AssetsUnion Jack acquired its stake in the West Newton field in 2019, after gas was discovered by Rathlin Energy. While the site is believed to be one of the largest onshore gas finds in the UK, regulatory delays and planning uncertainty have stalled development.“Regulatory uncertainty has unduly hampered progress,” Bramhill noted, adding that the company is now seeking alternative ways to monetize the asset without waiting for full-scale infrastructure approvals.By mining Bitcoin on-site, Union Jack can generate early cash flow from a project that would otherwise remain idle — a growing strategy in global energy markets where stranded or flared gas has limited traditional utility.A Potential Bitcoin Treasury StrategyIf the pilot project succeeds, Union Jack Oil may also consider adopting a Bitcoin treasury strategy, placing BTC holdings on its balance sheet as part of a broader diversification move — a rare step for a UK-listed energy firm.The idea mirrors a shift among energy producers globally, including recent moves in Canada, Argentina, and the United States, where companies are using stranded gas to mine Bitcoin and offset environmental or regulatory costs.In North Dakota, oil giant ConocoPhillips ran a pilot supplying excess gas to Bitcoin miners.In Argentina, Tecpetrol used leftover gas to power mining rigs after facing flaring limits.In June 2025, Canadian firm AgriFORCE launched a 120-rig mining site using stranded gas, with plans for further expansion.These ventures highlight a rising trend of energy-Bitcoin convergence, particularly in jurisdictions where energy logistics, infrastructure bottlenecks, or environmental rules make traditional monetization uneconomical.Union Jack Oil’s initiative may mark a first for the UK — not only in converting stranded energy to crypto, but also in potentially becoming one of the nation’s earliest corporate adopters of Bitcoin as a treasury asset, according to Cointelegraph.