James Howells, the man who has been hunting down his lost hard drive containing 8,000 BTC, addressed circulating reports claiming that he has given up on his 12-year search.
In 2013, a British IT engineer accidentally threw out his hard drive containing Bitcoin he had mined a few years earlier, which ended up in a landfill site in Newport.
As bitcoin’s value soared exponentially over the following years, Howells sought permission to excavate the landfill, only to have his request rejected by the regional council. Howells explored other options, such as using AI to help locate the hard drive. With today’s bitcoin price of $114,231, Howell’s lost hard drive is worth around $915 million.
Earlier this week, several social media posts emerged saying that Howells has officially ended his quest to recover the lost bitcoin.
“No, I have not ‘given up,” Howells told The Block via direct message on social media platform X. “The story going around is partially true, but not in the way it’s being framed.”
Howells explained that on July 1, he made a formal offer of between $33 million and $40 million in value to acquire and excavate the Newport landfill site, sent to the Newport City Council’s leader, legal team and a member of its parliament.
To raise funds for the acquisition, Howells had announced plans to launch an Ordinals-based token in October, representing 21% of the lost wallet’s value.
Despite the sizable amount of the offer, Newport representatives have not replied or acknowledged the offer, according to Howells.
“So here’s where we stand — If they won’t sell, there’s no need for a token sale to buy the landfill,” Howells said. “I am no longer pursuing the purchase of the landfill, I am no longer pursuing excavation or remediation, I am no longer pursuing dialogue with the council or its representatives.”
Tokenizing legal ownership
Howells said he has simply “pivoted” his strategy, but has not given up on his lost bitcoin, as he remains the legal owner of the 8,000 BTC, citing a High Court ruling in January this year.
“The Council may own the hard drive, but they do not own the digital contents of that hard drive – the 8,000 bitcoin are legally mine in law – the balance of which can be verified by anyone worldwide at any time,” Howells told The Block.
Howells said now he is planning to tokenize his legal ownership of the lost 8,000 BTC into a new Bitcoin Layer 2 smart token named Ceiniog Coin (INI), utilizing the upcoming network update that removes the 80-byte cap on the OP_RETURN opcode in bitcoin transactions to free up space for more functionality.
The token is slated for launch after October, and an ICO is planned for later in the year, Howells added.
“The intention is to bootstrap the Ceiniog ecosystem and launch a successful high-speed, high-scale, fast-confirmation, payment-focused web3 environment secured by the Bitcoin blockchain and backed by 8,000 BTC,” Howells told The Block.
The Block has reached out to Howells for further comment on how his new Ceiniog coin plan affects his ultimate goal of retrieving the lost bitcoin.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
