James Howells, the British IT expert known for losing access to 8,000 Bitcoin in a landfill mishap back in 2013, is clarifying recent rumors. He took to X (previously Twitter) to counter social media claims suggesting he has given up his pursuit of recovering the Bitcoin. Howells categorically denied these claims and unveiled a fresh approach to recover his substantial fortune, valued at approximately $923 million today. Although he has ceased attempts to gain permission from local authorities to search the landfill, his efforts are far from over.
Howells Refutes Claims, Initiates Conversion of Lost Bitcoin into Ceiniog Coin
In a statement shared on X, Howells affirmed his continued determination and criticized years of rejection from the Newport City Council. For over ten years, he has explored public proposals, legal negotiations, mediation, and even offered over $30 million to retrieve the hard drive buried in the landfill. “A billion dollars, and they ignored it all,” he noted. With no response from the council, he’s moving forward with an alternative plan.
Rather than pursuing legal actions or further offers, Howells announced a bold new strategy: to tokenize the entire portfolio of 8,000 BTC into a novel cryptocurrency named Ceiniog Coin (INI). Drawing inspiration from an old Welsh coin, Ceiniog is designed as a Layer 2 token built on Bitcoin, maintaining a 1:1 ratio with satoshis, Bitcoin’s smallest unit. Howells plans to issue 800 billion INI tokens, each connected directly to the 8,000 BTC on the missing drive.
Howells states that Ceiniog is slated for a late 2025 launch, utilizing Bitcoin’s OP_RETURN feature. It will be compatible with Web3 initiatives such as Stacks, Runes, and Ordinals. With an Initial Coin Offering (ICO) expected later this year, Howells aims for the coin’s market value to eventually align with that of the missing Bitcoin, positioning him as a theoretical billionaire, just 8.34% short of this target based on current market conditions.
The Story of the Lost Bitcoin and Efforts for Recovery
The tale began in 2013 when James Howells, a British IT professional, mistakenly disposed of a hard drive containing the keys to 8,000 BTC, now worth nearly a billion dollars. Upon realizing his mistake, Howells has spent the last 12 years attempting to recover it.
He has submitted numerous recovery plans, including proposals for environmental clean-up and AI-driven landfill scanning. Additionally, he offered to raise $75 million by selling 21% of the Bitcoin’s value to support the excavation process. His latest offer, made in July 2025, valued between $33 million to $40 million, encompassed a complete landfill purchase and a cleanup proposal. However, the Newport City Council dismissed the plan, citing environmental concerns and uncertainty about the outcome.
Now, instead of sifting through landfill debris, Howells is creating Ceiniog Coin as his method of reclaiming what he believes is rightfully his. He intends to launch the coin at a discounted rate, providing early backers an opportunity to invest before its value peaks. Over time, he hopes the token’s value will naturally rise, mirroring the worth of 8,000 Bitcoin.
