A UK man who accidentally threw away a hard drive containing around $1 billion worth of Bitcoin is trying a new approach to recover his lost fortune. James Howells, who lost his crypto wallet nearly a decade ago, isn’t giving up.
Years of Rejection
For over 12 years, Howells has tried everything to get permission from the Newport City Council to search the landfill where he believes his hard drive is buried. He’s made offers, proposed deals, even pursued legal action, all to no avail. He claims the council ignored a $25 million offer. He’s now declaring he’s done asking for permission.
The Ceiniog Coin Plan
Howells’ new plan involves tokenizing his missing 8,000 BTC. He’s launching a new blockchain called Ceiniog Coin (INI), aiming for a late 2025 launch. He plans to represent each satoshi (the smallest unit of Bitcoin) with a Ceiniog Coin, creating 800 billion INI tokens. This new cryptocurrency will be built on Bitcoin’s technology and integrate with other existing systems. Howells defiantly states that while authorities can block physical access, they can’t stop the blockchain.
The Landfill Closure
The Newport City Council previously rejected Howells’ $70 million offer in 2021, citing environmental concerns. The landfill is scheduled to close sometime between 2025 and 2026.
Current Bitcoin Price
At the time of writing, Bitcoin is trading at $115,429.