From the YCMTSU!!! files – the UK’s ‘Minister of ‘net zero’, Mad Miliband, approves ‘gentle’ FRACKING of gas in the UK by a company so that it can mine Bitcoin!!!
The gas field holds 8 BILLION CUBIC METERS OF GAS – enough to supply more than10% of the UK’s needs.
The United Kingdom’s natural gas consumption in 2024 was 62.50 billion cubic meters (bcm)From here:
Giant Yorkshire Gas Field ‘To Mine Bitcoin Instead of Boosting British Energy’ - Watts Up With That?
“Reabold Resources has been awarded a licence to carry out “gentle” fracking in the West Newton field near Hull, which is estimated to contain up to eight billion cubic metres of gas.
That would be enough to meet more than a tenth of the UK’s annual needs and makes it one of the largest onshore fields discovered in Britain, with the potential to bolster energy security for years to come.
However, Reabold instead plans to construct a small gas-fired power station on the site and use the energy produced to “mine” Bitcoin.”
“Bitcoin mining is one of the most energy-intensive of all digital activities. A power station would need to burn around 150,000 cubic metres of gas – the volume of 50 Olympic swimming pools – to generate the electricity needed to create one Bitcoin.
Reabold’s West Newton gas field is so large that it could theoretically power the creation of 50,000 Bitcoins.”
That might be worth around 2.5 billion dollars.
“Alternatively, it could help provide gas for the whole of the UK. The drilling site lies within a couple of miles of National Gas’s transmission pipeline and so could easily be connected. …”
“The search for Bitcoin is becoming one of the most profitable and energy-intensive global activities, last year estimated to consume 160 terawatt hours of electricity. That’s about 50% of the UK’s entire annual consumption.
“Ed Miliband, the Energy Secretary, imposed a ban on full-scale fracking last year. Despite this, the rules still allow lower-pressure fracking of the kind planned at West Newton.”
Worth reading in full.
Here’s how Brave AI describes the process to convert electricity to Bitcoin.
“Bitcoin mining uses electricity to power specialized hardware called ASICs (Application-Specific Integrated Circuits) that perform complex mathematical calculations to secure the network and verify transactions.
This process, known as Proof-of-Work, requires miners to compete in a race to find a valid cryptographic hash, a task that consumes massive amounts of computational power and energy to prevent fraud and ensure the immutability of the blockchain.
he energy consumption is driven by the following factors:
Network Security: Miners must spend real money on electricity and hardware to add blocks to the blockchain; this cost makes it economically prohibitive for anyone to manipulate the ledger.
Hashrate Competition: As more miners join the network, the difficulty of the mathematical puzzles increases, requiring more powerful hardware and thus more electricity to maintain the average block time of 10 minutes.
Profitability Incentives: Miners add computing power as long as it is profitable; higher Bitcoin prices increase the value of block rewards, incentivizing greater energy expenditure to secure the network.
On average, mining a single Bitcoin consumes approximately 6,400,000 kilowatt-hours (kWh) of electricity, enough to power about 61 U.S. homes for a year.
Globally, the Bitcoin network consumes an estimated 138 to 184 terawatt-hours (TWh) annually, depending on the source, which is comparable to the electricity usage of countries like Argentina or Poland.
Price Milestones (2023–2026)
2023: The price recovered from the 2022 lows, rising from roughly $16,688 in January to close the year near $43,599.
2024: Following the approval of Spot ETFs and a halving event, Bitcoin surged past $100,000 in December 2024, reaching highs above $75,902 earlier in the year.
2025: Bitcoin achieved its all-time high of $126,080 (with some sources citing $125,725 in August 2025), driven by continued institutional adoption and market sentiment.
2026: The asset entered a decline, falling to $66,645 by February 2026, with a current trading price around $74,565 as of April 20, 2026.
I’m a old school investor who requires earnings and dividends from an ‘investment’ – bitcoin provides neither and so – to me – is worth double 0, triple 0, eff all blank.
Mind you I don’t own art, coins or antiques – I do own a few stamps though, haha!
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I do believe this epitomizes the very definition of corruption and crony capitalism.
There is no other valid reason for the absurdity of this decision.
The fact that UK residents are not burning down government buildings over this decision is evidence they are demoralized and beyond caring.
They simply accept their lot.
And this is the end result of what the government has been striving for for decades: a citizen that has given up hope.
Very sad.
Love your style Pete mad miliband he sure is 🤣🤣🤣💯%