James Howells, the British IT engineer recognized for by accident discarding a tough drive containing 8,000 Bitcoin in 2013, has denied current experiences suggesting he’s deserted his 12-year quest to get well the misplaced fortune—now value round $915 million.
The arduous drive, which ended up in a Newport landfill, has been the topic of quite a few excavation proposals. Regardless of Bitcoin’s meteoric rise, Howells has repeatedly been blocked by Newport Metropolis Council, which has refused entry to the positioning.
Earlier this yr, Howells made a proper acquisition supply between $33 million and $40 million to buy the landfill, however obtained no response from the council.
Responding to current claims that he had “given up,” Howells advised The Block:
“The story going round is partially true, however not in the way in which it’s being framed… I’m not pursuing the acquisition or excavation of the landfill.”
As an alternative, Howells is pivoting his technique—not abandoning it. He cited a Excessive Court docket ruling from January 2025, which confirmed that though the council could personal the bodily drive, the digital contents—8,000 BTC—stay legally his.
His new strategy entails tokenizing his authorized possession by way of a Bitcoin Layer 2 good token referred to as Ceiniog Coin (INI). The token might be backed by the misplaced BTC and leverage an upcoming Bitcoin community improve lifting the 80-byte OP_RETURN cap. An ICO is predicted later this yr.
“The goal is to bootstrap a high-speed, payment-focused Web3 ecosystem backed by Bitcoin,” Howells stated, positioning INI as a digital declare on his still-lost, however legally retained, Bitcoin steadiness.
