James Howells, owner of a discarded hard drive with 7,500 Bitcoin (BTC), has recently pleaded guilty to discovering a dump site and possibly recovering the device.
Back in 2013, Howells accidentally threw a hard drive worth 7,500 BTC while washing his house. Bitcoin stash comes from Howell mining service back when it was also possible to apply CPUs to my Bitcoin /
In November 2013, Bitcoin on the hard drive was already worth $ 6.5 and Howell has been trying to recover since.
Now, according to the daily tabloid Dailyport, South Wales Argus, Holler has filed a new petition for the right to clear a landfill site in the city.
Following subsequent rejections by the Newport City Council, Howells advanced, giving 25% of the amount of Bitcoin lost as a COVID-19 relief gift to the city. In the current valuation of Bitcoin, the hard drive is nearly $ 290 million, meaning the city could earn up to $ 72 million if the driver gets back successfully.
According to Howells, all that is needed is access to the landfill records to identify the correct storage location of the hard drive for finding the storage space of the bag. IT engineers also revealed that the search team will create an airtight seal to avoid the release of toxic gases while digging.
When discussing the possibility of retrieving useful data from the hard drive, Howell noted:
“There is no evidence of that [it still working] because of the environment, but there are things that give me confidence. The outside court can be rusty. But the internal disk, where the data is stored, should have a good chance that it is still working. I believe the world will come again. But as long as this pulls on, it’s likely to happen. ”
However, Newport City Council officials said the environmental hazards associated with mining were important for the possibility that the drill would not bear any fruit. If the data cannot be discovered, council officials say the city will be left to press the bill.
Meanwhile, Howells said it is preparing to make money to the bank to cover mining costs.
Howells is one of many Bitcoin owners to lose access to their currencies over the years. In 2012, Campbell Simpson, a former Gizmodo editor also reissued a hard drive worth 1,400 BTC, now worth $ 53.6 million.
From lost private keys, to sending BTC error to leaking addresses, such as 20% of the current distribution supply can be lost forever. Indeed, data from crypto analytics provider Chainalysis and Glassnode multiplier catalogs the lost Bitcoin number between 3 and 3.7 million “coins”
Soon, a student is hoping to recover private keys to a wallet worth 127 BTC worth $ 4.8 million.