Lost 8,000 Bitcoin worth £620M remains buried as Newport landfill set to close by 2026, blocking recovery efforts amid financial and environmental changes.
A landfill site in Newport, Wales, where a man lost a hard drive containing 8,000 Bitcoin, is set to close in the 2025-26 financial year. James Howells fights in court to reclaim his £620 million worth device from this location since years ago.
In 2013 Howells stated that the hard drive got lost by mistake through incorrect disposal. His many attempts at accessing the landfill site have included making financial offers to Newport City Council. The court dismissed his legal case which stopped him from conducting a site search and denied him monetary damages worth £495 million.
The landfill has undergone operation since the early 2000s based on Newport council documents, and it continues towards the conclusion of its productive existence. Council authorities announced that the site closure will continue with final capping operations for the next two years. Additionally, this follows their planned termination strategy. Furthermore, they emphasized that this process aligns with their long-term waste management strategy. The household waste recycling facility which operates to the north of the landfill will keep its doors open.
Newport Moves to Green Energy While £620M Bitcoin Stays Buried
Financial effects from landfill site closure are anticipated to impact the city’s finances. The council expects to lose £777,000 in revenue next year. Additionally, it anticipates a further loss of £198,000 the following year. The council obtained planning permission to construct a solar farm on part of the land, thus attempting to reduce financial losses.
The urban population will benefit from electricity generated by the solar facility which received its approval in August 2024. The council now deploys seven electric bin lorries while working toward a full diesel fleet replacement in future years.
The financial world actively engages with the subject of Bitcoins that have been lost. The head of Tether Paolo Ardoino indicates that quantum computing innovations may one day enable cryptocurrency access from abandoned wallets. As access to previously forgotten Bitcoin funds increases, investors might start selling their assets. Consequently, this could put pressure on Bitcoin prices.
The closure developments of the landfill make it significantly difficult for Howells to recover his missing Bitcoin assets.
Source: https://www.livebitcoinnews.com/uk-landfill-holding-8000-bitcoin-set-to-close-by-2026/