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Texas Bitcoin Miners Sketch a Future of Cozying Up to Gas Wells

  • Texas Blockchain Council is pushing crypto-friendly policies
  • Well operators would avoid tax on selling gas to make Bitcoin
Bitcoin mining machines at a warehouse in Rockdale, Texas.

Bitcoin mining machines at a warehouse in Rockdale, Texas.

Photographer: Mark Felix/AFP/Getty Images
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Texas crypto miners have long touted an intriguing solution to the problem of stranded gas -- the accidental byproduct of oil drilling that’s usually burned off at the wellhead.

They propose tapping into that unused energy by hooking up generators that would convert the gas into electricity for the vast computer arrays they use to create new Bitcoin. A few entrepreneurs have already started doing it, moving trailers outfitted with mining rigs into remote corners of the Texas oil patch.