In a large bowl, combine bread flour, 2 cups of cheddar cheese, jalapeños, and salt. In a separate large bowl, combine warm water and yeast. Pour flour mixture on top of the water and stir until dough forms. Fold edges of dough toward the center, rotating the bowl each time, folding a total of 8 times. Cover with a towel and proof for 60 minutes, until almost doubled in size. Fold dough toward center again 8 more times. Cover and proof another 30 minutes. Add empty dutch oven with lid to oven and preheat to 450° F for 30 minutes. Carefully peel dough out of the bowl onto a lightly floured surface. Flip and brush away excess flour.
Fold edges of dough toward center 8 times, flip and transfer to a piece of parchment paper. Brush top of dough with olive oil. Sprinkle remaining ½ cup of cheese on top. Score dough with a sharp knife with an X. Arrange jalapeño rings on top. Place dough with parchment paper in the dutch oven, cover, and bake for 30 mins. Remove lid and bake another 20 mins, until golden brown. Cool on a wire rack at least 1 hour before slicing.