Bitcoin treasure hunt ends in trash: Judge dumps man’s $500M dreams 💸🗑️
In 2013, James Howells, a British computer engineer from Newport, Wales, inadvertently discarded a hard drive containing 8,000 bitcoins, which he had mined in 2009. At the time of disposal, these bitcoins were valued at approximately £4 million ($6.5 million). Over the years, as the value of bitcoin surged, the worth of the lost stash escalated to over $500 million.
Realising the magnitude of his loss, Howells approached the Newport City Council multiple times, seeking permission to excavate the landfill where he believed the hard drive resided. He proposed a $13 million excavation plan, assembling a team that included the council’s former head of landfill, who claimed to know the specific area where the hard drive might be located. The proposed excavation was estimated to take between 18 and 36 months, followed by a year of remediation work.
Despite his efforts, the council consistently denied his requests, citing environmental concerns and the potential risks associated with disturbing the landfill. In response, Howells filed a legal claim against the council, seeking damages of £495 million ($646 million), representing the peak valuation of the 8,000 bitcoins. He aimed to leverage this legal action to gain permission for the excavation.
However, in January 2025, Judge Keyser KC of the High Court dismissed Howells’ claim, stating that it had no reasonable grounds or realistic prospects of success. The judge ruled that the hard drive now legally belonged to the council and that environmental permits prohibited excavation of the landfill site. This decision was a significant setback for Howells, who described the outcome as “gut-wrenching” and expressed frustration at not being able to present his case fully in court.
Despite the legal defeat, Howells remains determined. He has expressed intentions to escalate the matter to the Supreme Court, holding onto the belief that the bitcoin could be worth £1 billion by next year. In a half-joking appeal, he even suggested seeking help from former U.S. President Donald Trump, offering a share of the potential recovery.
As of now, the hard drive remains buried beneath tons of waste in the Newport landfill, its fortune tantalisingly out of reach. Howells’ decade-long quest serves as a poignant reminder of the importance of safeguarding digital assets and the unpredictable journey of cryptocurrency fortunes.
The price of 1 bitcoin is currently at AUD $160,694.50 which would equate to holding of AUD $1,285,556,000.
So next time you lose your wallet, don’t feel too bad!
Interview with James Howells on 29 Nov 2013. Video by BBC News
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