James Howells, a 39-year-old IT engineer, has filed a lawsuit against Newport Council, seeking permission to search for a hard drive he accidentally discarded in 2013. The drive contains 8,000 Bitcoins, now valued at $500 million.

How Howells Wants the Council to Approve Excavation

Howells has assembled a team of experts and is ready to spend £10 million on excavation. In return, he has offered the council 10% of the recovered Bitcoin's value, which could amount to tens of millions of pounds.

How the Loss Happened

In August 2013, Howells mistakenly threw away the hard drive with the Bitcoins, which he had mined in 2009 when cryptocurrency was in its early stage. During a routine cleanup, he mixed up two identical hard drives and unknowingly disposed of the one containing BTC. The value has since skyrocketed, turning the drive into a fortune.

The Legal Battle and Environmental Concerns

Despite numerous requests, the Newport Council has repeatedly denied Howells permission due to environmental concerns, claiming the drive legally belongs to them. Howells' legal counsel argues he never intended to abandon ownership. His team is optimistic about success and insists excavation will benefit the environment.

Despite Howells' assurances, the council remains firm, labelling his claims as 'weak'. Howells vows to escalate the matter to higher courts if necessary.