James Howells, the owner of the discarded 7,500 bitcoin (BTC) hard drive, has filed a new request to remove the dump and possibly rebuild the device.
Back in 2013, Howells accidentally dumped a 7,500 BTC hard drive while cleaning his house. Bitcoin Cash emerged as a result of Howell’s mining activity, when processors could still be used to mine Bitcoin /
As of November 2013, bitcoin was already worth $ 6.5 million on hard drive, and Howell has been trying to recover it ever since.
Now, according to the Newport Daily Tabloid, South Wales, Argos, Holler has filed a new appeal to excavate the city’s landfill site.
Following a subsequent rejection by the Newport City Council, Howells increased its preliminary bid by offering 25% of the lost bitcoin value as an emergency COVID-19 donation to the city. At current bitcoin price, the hard drive is worth about $ 290 million, which means the city could have earned about $ 72 million if the drive were rebuilt.
All he needs is access to landfill records to pinpoint the exact hard drive website for targeted object searches, Howells said. The IT engineer also said the research team will create an airtight seal to prevent toxic gases from escaping while drilling.
Howells commented on the ability to recover useful data from a hard drive:
“There is no guarantee [he is still working] because of the environment he was in, but there are things that give me confidence. The outside of the case may have been rusty. But inside the disk where the data is stored, there should be a good chance it is still working. I think this will still be an opportunity. But the longer it goes on, the less likely it is. ”
However, Newport City Council officials say the environmental risks associated with drilling are high given the likelihood that the process will not pay off. If the data cannot be recovered, city council officials say the city will have to pay the bill.
Howells, meanwhile, says he’s willing to use the funds from the closed account to cover drilling costs.
Howells is one of the many Bitcoin owners who have lost access to their money over the years. In 2012, Campbell Simpson, a former editor at Gizmodo, dumped a 1,400 BTC hard drive that is now worth $ 53.6 million.
From losing private keys to incorrectly transferring BTC to recorded addresses, up to 20% of existing trading stock can be lost forever. In fact, data from cryptographic analysis provider Glassnode Chainalysis and Aggregator show that the number of bitcoins lost ranges from 3 million to 3.7 million “coins”.
Recently, a student was fortunate enough to recover the private keys of a $ 4.8 million wallet containing 127 BTC.