UK's Union Jack Oil Plans Bitcoin Mining at Natural Gas Field

Union Jack Oil, a UK-listed oil and gas company, announced on the 7th that it plans to convert natural gas into electricity at its West Newton drilling site in the UK, to mine Bitcoin (BTC). Depending on the success of this initiative, the company may consider adopting a new Bitcoin treasury (financial) strategy. The mining operations are scheduled to be conducted through a joint venture. Union Jack Oil is co-developing the West Newton gas field through a joint venture and holds approximately 17% working interest in the region. The business operations in this area are managed by the joint venture...