HB 4512
Businesses: other; orphaned well partnership program and fund; create for bitcoin mining. Amends secs. 61601, 61603 & 61604 of 1994 PA 451 (MCL 324.61601 et seq.) & adds secs. 61609, 61611, 61613, 61615, 61617, 61619 & 61621.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates a program and fund to allow businesses to use abandoned oil and gas wells for bitcoin mining. The program would involve a partnership where participants temporarily use the well's oil and gas production to power bitcoin mining equipment, with the responsibility of plugging the well and restoring the site afterward. The Michigan Department of Environment, Great Lakes, and Energy (EGLE) would oversee the program, solicit bids from interested companies, and manage the associated fund.
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