• Hedge fund backs man who dumped hard drive with $381 million in bitcoins

  • A multi-billion dollar hedge fund is willing to cover any and all expenditures related with the hunt, including all necessary equipment, according to the British IT professional.

    Hunt To Be Supported By A Hedge Fund A landfill search using X-ray scanning machines and AI technology is being planned by James Howells, a British IT specialist who tossed out a hard disk carrying £275 million in Bitcoin. The 35-year-old is believed to have contacted environmentalists, data recovery experts, and engineers from all over the world in order to complete the 12-month planned specialized hunt.

    A multi-billion-dollar hedge fund is willing to cover any and all expenditures related to the hunt, including all necessary equipment, according to the British IT professional.

    In exchange for their assistance, the hedge fund will take a cut of his fortune. “The value of Bitcoin has fluctuated since I made the offer in January; if we were to retrieve the hard drive now, it would be worth £275 million ($381 million),” James told reporters.

    According to accounts, James tossed away the hard disk with the Bitcoin fortune while cleaning his office in 2013. In exchange for permission to study a 200-meter stretch of a garbage dump in Newport, Wales, he has now offered his local government £55 million.

    Because the hard disk must remain untouched or undamaged throughout the process, the British IT professional claims that his next search will be sensitive. According to the Newport native, the scanning device might cost up to £500,000, plus a £100,000 extractor tool to clean away any pollution.

    He explained, “You can’t just use a claw grabber.” James went on to say that the search would be thorough, rather than just digging with a bucket and spade.

    “We have a system with numerous conveyor belts, X-ray scanning devices, and an AI scanning device that is taught to recognize items of comparable size and density to the hard drive,” says the researcher. We have excavation professionals and experienced engineers on staff to ensure that everything is done appropriately and in a manner that is environmentally friendly,” he explained.

    According to James, it took him four or five months to locate the world’s best data recovery experts and ensure that they could recover the data from the hard disk. On the other hand, James claims that no matter how much money he offers, local council heads will refuse to even consider the idea, portraying them as intractable. James stated that all he wants to do is meet with officials and give his recommendations. He promised his municipal council $70 million to recover it from the dump.

    “If they would just listen to me and hear what I have to say, they would realize there is no danger to the council. All I want to do is present my case to the decision-makers, and if they still say no, fine, but they won’t even do that,” he explained.

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