The bill amends the Natural Resources and Environmental Protection Act to establish a framework for a new program that allows for the use of abandoned oil and gas wells for bitcoin mining. It introduces several new definitions, including "bitcoin mining" and "bitcoin program," and outlines the responsibilities of the supervisor in managing this program. The bill specifies that participants in the bitcoin program will be responsible for plugging abandoned wells and performing necessary site restoration in exchange for the right to use the oil and gas produced from these wells for bitcoin mining. Additionally, the bill mandates that the supervisor compile a list of abandoned wells suitable for the program and solicit bids from potential participants.

Key provisions include the establishment of a partnership program for bitcoin mining, the requirement for participants to obtain a bond to ensure compliance with plugging and restoration obligations, and the ability for participants to enter agreements with third parties for the transfer of oil and gas to the market. The bill also allows the supervisor to promulgate rules for implementation and requires annual reporting to the legislature on the status of abandoned wells and the bitcoin program. Overall, the bill aims to address the environmental concerns associated with abandoned wells while leveraging them for economic activity through bitcoin mining.