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Man who accidentally threw out a bitcoin fortune offers $70 million to dig it up

January 15, 2021. Summarized by summa-bot.

Compression ratio: 22.2%. 1 min read.

Mandatory Credit: Photo by Shutterstock (3394526a) James Howells at the Newport Amenity Centre and landfill site Man throws away computer hard drive with ??4m worth of bitcoins stored on it, Wales, Britain - 28 Nov 2013 A computer expert threw away an old hard drive containing 7,500 bitcoins worth an estimated ??4m. James Howells obtained the bitcoins, which are a virtual form of currency, for almost nothing in 2009. A few years ago the IT worker removed his computer's hard drive after spilling a drink on it. The part then sat in a drawer of his house for years and he forgot that he had the bitcoins on it. So during a recent clearout of his old IT equipment he thought nothing about throwing the drive out. It was only later that he realised what had been left on there. He checked all of his back up files but could not locate the coins so went to his local landfill site. However, one glance at the size of the site and he knew it would be fruitless to search for the drive. Bitcoins have soared in value recently and a single one is now worth around $1,000 (??613).

A British man who accidentally threw a hard drive loaded with bitcoin into the trash has offered the local authority where he lives more than $70 million if it allows him to excavate a landfill site.

(CNN)A British man who accidentally threw a hard drive loaded with bitcoin into the trash has offered the local authority where he lives more than $70 million if it allows him to excavate a landfill site.

Now, with his lost bitcoin having soared even further, Howells has approached Newport City Council in Wales to ask for permission to dig a specific section of the landfill site where he believes the hard drive ended up.

He told CNN: "I offered to donate 25% or £52. 5 million ($71. 7 million) to the city of Newport in order to distribute to all local residents who live in Newport should I find and recover the bitcoins. "

A spokeswoman for Newport City Council told CNN that the local government authority had been "contacted a number of times since 2013 about the possibility of retrieving a piece of IT hardware said to contain bitcoins. "

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