– UK-listed Union Jack Oil plans to integrate Bitcoin mining at East Yorkshire’s joint exploration site to monetize natural gas amid regulatory delays.
– The project involves non-binding agreements with Rathlin Energy and Texas-based 360 Energy for infrastructure deployment and gas monetization.
– The board describes the initiative as a “sustainable revenue” strategy, potentially shifting toward Bitcoin reserves if mining proves successful.
– This reflects energy companies’ growing trend to leverage surplus resources for digital assets, optimizing infrastructure and diversifying income streams.