[GREAT BRITAIN, UK] – A man in the United Kingdom accidentally threw away a hard drive that had millions of dollars worth of Bitcoin on it. Now he’s asking his local government for permission to dig for it.
The man is offering more than $70 million as a reward to his town if he’s allowed to start excavating the landfill where he thinks the drive may have ended up.
Wow. “Mining for Bitcoin” has officially taken on a whole new meaning. That sucks!
Wayyyy back in 2013, British IT worker James Howells held around 7,500 Bitcoins when the cryptocurrency was less valuable. Fast forward to 2021 and Bitcoin value has skyrocketed. Good news for James, right? Wrong!
Turns out Mr. Howells had accidentally gotten rid of the hard drive! When the value of his Bitcoin rose to an estimated $273 million, he tried to track down the drive but then realized he had mistakenly thrown it away. Now, Howells has approached Newport City Council in Wales to ask for permission to dig a specific section of the landfill site where he thinks the hard drive ended up.
We felt horrible when we accidentally threw our retainer away back in middle school. But losing $270 million worth of Bitcoin? We might just walk into that landfill and never come back.
Better start digging for that Bitcoin!
Howells now has to convince his local government to give him permission to start the landfill excavation. As of now, no decision has been made. Howells told CNN that he would donate “25% or $71.7 million to the city in order to distribute to all local residents who live in Newport.” He just has to find the drive.
If Howells gets permission to dig, he stated that his plan would be to submit the drive to data recovery specialists who might be able to rebuild it and get him his Bitcoins. Howells would also be on the hook for giving 50% of the Bitcoin to investors who are helping him pay for the dig. If he’s able to actually find the drive, he would be left with the remaining 25% worth of its initial value or around $67.5 million
While we wish we had $270 million worth of Bitcoin. We certainly do not envy Howells’ predicament. Folks on social media don’t seem to either.
Good luck digging up that lost Bitcoin, Mr. Howells! You are definitely going to need it.
We can’t help but think that if we all chipped in to dig up that lost hard drive that maybe we could get our hands on some of that $70 million reward money? Just a thought!