A landfill site in Newport, Wales, where IT worker James Howells claims his hard drive containing 8,000 Bitcoin was discarded, is set to close by the 2025-26 financial year. The planned closure brings an end to Howells’ decade-long fight to recover the cryptocurrency treasure, currently valued at around $768 million.
Planned Closure and Environmental Concerns
A Newport council spokesperson confirmed to BBC News on February 9 that the landfill, in operation since the early 2000s, will be capped and repurposed over the next two years. The council has secured permission to develop part of the site into a solar farm, a project approved in August.
Howells’ attempts to search the landfill were repeatedly denied by the council, citing environmental risks and regulatory restrictions. Despite Howells assembling a team of AI experts with technology to conduct an efficient and cost-free search, the council maintained that excavation was not possible due to the potential environmental damage.
In October, the council stated that digging into the site would have a “huge negative environmental impact on the surrounding area.”
Lost Bitcoin
Howells, who mined the 8,000 BTC in 2009, claimed the drive was mistakenly thrown away by a former partner in 2013. He launched a legal battle to either gain permission to search the site or seek compensation for the loss. In January, a judge dismissed his case, ruling that he had “no realistic prospect” of success at trial.
The lost Bitcoin reportedly forms part of a broader issue within the crypto space. Web3 executive Al Leong estimates that up to 3 million BTC — about 13% of the total supply — may be permanently lost in inaccessible wallets.
Meanwhile, Tether CEO Paolo Ardoino recently suggested that advances in quantum computing could one day breach these lost wallets and return the coins to circulation. However, some analysts warn this could create significant sell pressure on Bitcoin and destabilize its market.
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