The British company plans to leverage natural gas for mining, paving the way for a corporate treasury strategy.

Union Jack Oil, a UK-listed energy firm, has unveiled a project to convert natural gas from the West Newton site into electricity to power bitcoin mining operations.

The announcement, published on August 7 in the company’s operational update, highlights how mining can generate early cash flow from wells that would otherwise remain unused. The project is being developed through a partnership with Rathlin Energy and Texas-based 360 Energy, a company specialized in transforming stranded or flared gas into power for localized data centers.

The collaboration is based on a letter of intent outlining the implementation of 360 Energy’s In-Field Computing technology to launch mining operations directly at the West Newton A site, pending the necessary regulatory approvals.

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