UK Landfill Holding £600M Bitcoin Hard Drive to Close Following Legal Battle

The Newport City Council has announced that the landfill where computer engineer James Howells’ Bitcoin hard drive — containing an estimated £600 million (approximately $750 million) in BTC — was lost is nearing the end of its operational lifespan and is set to close within the next two years.

“The landfill has been in exploitation since the early 2000s and is coming to the end of its life, therefore the council is working on a planned closure and capping of the site over the next two years,” a council spokesman said, the BBC reported.

According to Newport City Council documents, part of the landfill site is scheduled to close during the 2025-26 financial year. In August, the local authority’s planning committee approved plans for the solar project designed to provide power for the council’s new fleet of bin lorries.

Reports indicate that the authority anticipates a revenue shortfall of £777,000 next year, followed by a further loss of £198,000 the following year.

Howells filed a legal claim against Newport City Council in an effort to gain the right to search for his missing hard drive. However, the council moved to have the case dismissed.

In early January, Judge Keyser KC, the Circuit Commercial Judge for Wales, ruled against Howells, dismissing his case and ending the 12-year legal dispute. The judge stated that the claim had “no realistic prospect” of success if it were to proceed to a full trial.

“I feel that my case was not given the proper level of consideration that the value of the asset in question deserved,” Howells said when he expressed his disappointment over the January ruling.

However, James Goudie KC, representing the council, contended that under existing laws, ownership of the hard drive was transferred to the council once it was discarded in the landfill. He further emphasized that the council’s environmental permits strictly prohibit any excavation of the site to recover the device.

In 2009, Howells mined 8,000 BTC when the cryptocurrency was valued at just $13. The father of three lost access to the funds after his partner mistakenly discarded a bag containing old computer components, including the hard drive where the Bitcoin was stored.

The hard drive has remained buried in the landfill, with layers of additional waste accumulating on top of it over the years.

Howells’ case attracted renewed attention in 2024 following Bitcoin’s surge to $100,000, marking a 130% increase in annual returns. The IT engineer estimated that the BTC stored on his lost hard drive could reach a value of £1 billion (approximately $1.21 billion) by next year.

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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