Exxon mining bitcoin with Crusoe Energy in North Dakota Bakken region

ExxonMobil, the top oil and gas producer in the U.S., is piloting a project to mine bitcoin in North Dakota, according to people with knowledge of the matter.

For over a year, Exxon has been working with Crusoe Energy Systems, a company based in Denver, said the people who asked not to be named because details of the project are confidential. Crusoe’s technology helps oil companies turn wasted energy, or flare gas, into a useful resource.

Similar to ConocoPhillips‘ mining scheme in North Dakota’s Bakken region, Exxon is diverting natural gas that would otherwise be burned off into generators, which convert the…