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The budding relationship between cryptocurrency and oil

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A construction worker walks past several bitcoin mining rigs.

A construction worker walks past bitcoin mining at Bitfarms in Saint Hyacinthe, Quebec, on March 19, 2018. - Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works based on the blockchain technology without a central bank or single administrator. (Photo by Lars Hagberg / AFP) (Photo by LARS HAGBERG/AFP via Getty Images) Lars Hagberg/AFP via Getty Images

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We’re wrapping up our series on cryptocurrency mining, the energy-intensive computing process that does all of the accounting for most cryptocurrencies.

Marketplace’s Andy Uhler previously reported on how crypto miners were drawn to the small Texas town of Rockdale because of its robust electric power infrastructure that hasn’t seen much use in recent years.

Elsewhere in Texas, oil and gas companies are starting to get involved in crypto mining.

Note: This story originally aired on “Marketplace.” You can read the web version here.

Related links: More insight from Kimberly Adams

CNBC covered the news of ConocoPhillips’ pilot program in North Dakota where the company is selling its excess natural gas to a third-party bitcoin processor.

The Guardian published a piece last year that digs into this potential solution to oil companies’ excess natural gas problem. Climate experts cited in the article warn that it’s not much of a fix at all, with some calling it a “false solution” and others describing it as just a “scam.”

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