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After losing $800 million in bitcoins, a man plans to acquire the landfill where the hard drive was discarded to try to recover his fortune.
A fortune may be buried in a landfill in the city of Newport, Wales digital.British James Howells believes that beneath tons of trash accumulated over the years lies a hard drive containing the key to accessing nearly $800 million worth of bitcoins.
The device was accidentally discarded in 2013, and Howells has been trying unsuccessfully to recover the equipment ever since.
Now, after a long battle with local authorities, he proposes a radical solution: buying the landfill.”I'm thinking of buying a landfill. Financing guaranteed“, Howells recently posted on X, formerly Twitter.
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The Briton did not reveal who would be financing the plan, but assured that he has support for the purchase.
The mistake that cost millions in bitcoins
It all started over a decade ago, when Howells was cleaning out his house and unwittingly discarded the wrong hard drive. At the time, the estimated value of the bitcoins stored was $9 million. Since then, with the cryptocurrency’s significant appreciation, the figure has jumped to almost $800 million.
The private keys that allow access to digital coins are recorded on this hard drive. Without them, the amount remains inaccessible.
Judge Andrew Keyser, who recently heard the case, compared it to throwing away a piece of paper with a unique password on it.
Battle in court
Howells didn’t sit idly by when he realized his mistake. In 2021, he offered the Newport City Council more than $70 million to excavate the landfill.
The request was refused. The city's argument was the environmental impact that an excavation of this magnitude would cause.
In January this year, a British High Court judge rejected yet another attempt by Howells. The court argued that environmental legislation prevents the movement of waste at the site. The decision frustrated the British man, but did not deter him.
Environmental risks and costs involved
Newport City Council, which is responsible for the landfill, has stressed the risks of the project. The site is due to close in the 2025/26 financial year and any excavation would compromise the safety and environmental balance of the area, it said.
The council spokesperson noted that the costs for the operation would be in the millions and there was no guarantee of success.
Waste management experts echo this concern. Moving the waste could release toxic gases, contaminate the soil and harm the neighborhood. Even if the hard drive were found, there are doubts about its integrity after so many years under extreme conditions.
