Union Jack Oil Bets Big on Bitcoin: Mining Rigs to Power Up at West Newton Site Ahead of BTC Treasury Plan

Fossil fuels meet digital gold—Union Jack Oil just flipped the script. The UK-based firm is repurposing its West Newton infrastructure to host Bitcoin mining operations, signaling a radical pivot as it preps a BTC treasury proposal.

Why now? With oil prices yo-yoing and Bitcoin's scarcity model looking increasingly bulletproof, the move smacks of hedging against energy market chaos. The rigs will tap into existing power infrastructure—because why let stranded assets go to waste?

Wall Street analysts are already sharpening their pencils: 'Another traditional firm chasing crypto yields,' muttered one, while updating his own Bitcoin ETF holdings. The playbook? Monetize dormant energy capacity while positioning for Bitcoin's next halving cycle—a two-for-one special in corporate alchemy.

One thing's certain: When oilmen start stacking sats, the financial establishment's 'pet rock' narrative crumbles faster than a fiat currency during quantitative easing.

Is a Bitcoin treasury on the horizon?

Executive Chairman of Union Jack, David Bramhill, said that if West Newton venture proves successful, the board of Union Jack Oil is considering the possibility of establishing a Bitcoin treasury strategy.

“The Board of Union Jack believes this proposed concept to produce Bitcoin through mining operations is innovative, offers strong scope for a sustainable return and could lead to the Company introducing a new Bitcoin Treasury strategy, on success,” said Bramhill.

However, considering the plan is still in its early stages, the strategy remains unclear. Bramhill stated that the board will continue to update shareholders on the development of the joint venture initiative in the future.

How much Bitcoin is left to mine?

According to data from Bitbo, there is approximately 1.09 million BTC left to be mined. So far, about 94.7% of the total BTC has been issued, with 450 BTC being mined per day.

As of August 7, 2025, there are 19.9 million BTC in total. The majority of BTC is widely believed to be held by Bitcoin creator Satoshi Nakamoto, who holds between 0.97 million to 1.1 million BTC.