James Howells, a British IT engineer who accidentally discarded a hard drive containing 8,000 Bitcoin in 2013, says he hasn’t given up, he’s just taking a new path.
The drive, buried in a Newport, Wales landfill, is now worth over $915 million based on current Bitcoin prices. Over the years, Howells made several efforts to excavate the site, including a formal offer between $33 million and $40 million sent to the Newport City Council on July 1, 2025. The council has not responded.
With no progress on excavation, Howells has announced a new strategy, to tokenize his legal ownership of the lost bitcoin. Backed by a UK High Court ruling, he maintains that while the council may control the hardware, the digital contents 8,000 BTC remain legally his.
Ceiniog Coin Plan to Launch in Late 2025
Howells is now developing Ceiniog Coin (INI), a Bitcoin Layer 2 token backed by the lost bitcoin. Set to launch in late 2025, 800B Ceiniog Coin will leverage an upcoming Bitcoin network upgrade that expands OP_RETURN functionality.
An initial coin offering (ICO) is also planned later this year. The token will represent 21% of the wallet’s lost value, allowing supporters to back the project. The goal is to build a fast, scalable Web3 payment system secured by the Bitcoin blockchain.
Despite ending talks with the city council, Howells insists he hasn’t given up, and that he’s just building something new.
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