James Howells, a 39-year-old man, is suing Newport Council for a staggering £495 million, claiming that a mix-up led to him losing access to 8,000 Bitcoins, which he mined in the early days of the cryptocurrency.
In 2013, Howells accidentally threw away a hard drive containing the keys to his Bitcoin wallet during a cleanup. Since then, the value of his lost coins has skyrocketed.
As reported by Wales Online, Howells aims to pressure Newport Council into allowing a landfill excavation where he believes his hard drive is buried. He has gathered a team of experts prepared to conduct a £10 million dig at no cost to the council. If successful, he will offer the council 10% of the coins’ value, potentially worth millions.
Despite his efforts, Howells says the council has largely ignored him for over a decade. He first approached them in November 2013 but received little response. He feels that if the council had acted sooner, Newport could have transformed into a thriving hub akin to Las Vegas or Dubai.
The mishap occurred when Howells, after cleaning out his office, mistakenly placed the hard drive containing the Bitcoin data in the trash. His partner, unaware of the importance of the drive, took it to the Newport household waste recycling center. At the time, the Bitcoins were worth under £1 million, but their value has since surged dramatically.
Newport Council claims it now owns the hard drive because it was discarded. However, Howells and his legal team argue that he never intended to abandon it. The case is set to be heard in December, with Howells determined to see it through to the end. “Until the courts tell me ‘no,’ I will keep fighting,” he stated.
James Howells deserves a chance to recover his lost Bitcoins, as the potential benefits for both him and Newport Council could be substantial. The council should reconsider its stance and collaborate on a search that could transform the community’s future.
Also Read: Bitcoin Price Surges 6% to $66,400, Highest Since July 30
