The £620m Bitcoin Treasure Hidden in Newport's Landfill: A Race Against Time

The Lost Bitcoin Treasure

A landfill site in Newport is set to close, and with it, a man's hopes of recovering a hard drive containing a Bitcoin wallet valued at about £620 million. James Howells, the individual in question, claims that his former partner accidentally disposed of the hard drive containing 8,000 bitcoins back in 2013.

Legal Battles and Council Decisions

Howells attempted to sue the Newport city council to gain access to the site on Docks Way or to receive £495 million in compensation. Unfortunately for him, a judge dismissed his case. According to Newport council documents, the landfill is expected to shut down during the 2025-26 financial year.

Future of the Site

While the landfill will be closing, the city's household waste recycling centre located to the north will remain operational. A council spokesperson noted that the landfill has been in use since the early 2000s and is nearing the end of its life. Plans are in motion for a planned closure and capping of the site over the next two years. The council anticipates losing out on £777,000 in revenue next year and £198,000 the following year.

Sustainable Initiatives

Interestingly, the council has secured planning permission for a solar farm on part of the land, approved last August, which is expected to power new bin lorries. Currently, the authority operates seven electric lorries and aims to phase out diesel vehicles in favor of electric models in the coming years.

Understanding Bitcoin

Bitcoin is often described as a cryptocurrency, a type of virtual currency that exists entirely online. While it can be used for purchasing goods and services, it's not widely accepted in many shops. Notably, trading or mining Bitcoin is illegal in China, and its use is restricted in countries like Saudi Arabia and Qatar.