You Won’t Believe What This Oil Company Is Doing with Bitcoin! 💥

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So, apparently, the U.K. oil and gas company Union Jack Oil has decided that drilling for black gold wasn’t enough. Now, they’re teaming up with some Texans (because everything is bigger in Texas, including wild ideas) to launch Bitcoin mining facilities at a gas field in West Newton. 🚀 Will this lead to a digital fortune or just another game of “Who Can Lose Money Faster?”

  • Union Jack Oil has penned a letter of intent-which sounds super official-about deploying these Bitcoin mining rigs with Texas-based 360 Energy. If they find success, they might just dip their toes in the shiny waters of a Bitcoin treasury. 💰
  • Union Jack’s Executive Chairman is probably rubbing a magic lamp hoping this works out, as successful mining could mean a treasure chest full of Bitcoin. ✨

Now, don’t get too excited. They’re still in the “let’s dream big” phase. The U.K. firm has signed a non-binding letter of intent (cue the dramatic music) with 360 Energy, a company that finds natural gas and tries to make it sound sexy. Under the LOI conditions, they’re aiming to turn natural gas into electricity to power-wait for it-data centers. Because nothing says “I’m living my best life” like a gas field turned Bitcoin factory! 😂

By the way, West Newton is rumored to contain nearly 200 billion cubic feet of gross recoverable gas resources. That’s enough to power both your Tesla and your neighbor’s questionable lifestyle choices!

The dynamic duo of Union Jack and 360 Energy hopes to cash in on the Bitcoin craze-because when the world is going digital, why not just mine cash instead of drilling for oil? Just your average Tuesday in the world of finance! 🤷‍♀️

But there’s more! This initiative is part of a stealthy feasibility study conducted by Rathlin Energy Ltd, which sounds like a character from a sci-fi movie, but it’s really just the operator of the PEDL183 license that includes West Newton’s gas discoveries. Union Jack currently holds a cool 16.665% working interest, just enough to feel important but not enough to buy a yacht. ⛵️

In their grand scheme, they’re planning to generate electricity from natural gas at current wells and use that to power cryptocurrency mining equipment right there on the land. I mean, who needs a theme park when you can just go full Wall Street on a gas field, am I right?

Is a Bitcoin treasury on the horizon? Or just a mirage?

David Bramhill, the Executive Chairman of Union Jack, recently hinted that if their gas-fueled Bitcoin mine takes off, they could end up with a little something they like to call a Bitcoin treasury strategy. It’s like a treasure hunt but for adults who flip spreadsheets. 🗺️

“The Board of Union Jack believes this proposed concept is innovative,” Bramhill said, trying to sound visionary while balancing on the edge of sanity. He continued that success could lead to them creating a full-fledged Bitcoin treasury strategy, should anyone care about that by then. Spoiler alert: They will update shareholders if it flops or becomes the next big thing! 🎉

How much Bitcoin is left to mine? Ready your pickaxes! ⛏️

So here’s the shocking reality: According to Bitbo (because we all trust data from a website that sounds like it might have been thrown together over a few beers), there’s about 1.09 million BTC left to mine. So far, a whopping 94.7% of the total Bitcoin has already been issued. With just 450 BTC being unearthed every single day, it’s like the world is on a limited edition hunt, only with fewer hipsters than you’d expect! 🎈

Let’s not forget, as of August 7, 2025, the glorious total stands at 19.9 million BTC. It’s widely believed that the bulk of it is hoarded by the legendary Satoshi Nakamoto-who may or may not be an actual person but a super-techy genie hiding in our digital lamp. 🔮

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2025-08-07 14:29