In an innovative move, Nodal Power has raised $13 million to convert landfill methane gas into electricity for Bitcoin mining. This groundbreaking initiative marks a significant step towards sustainability.
Converting Methane Gas into Electricity for BTC Mining
Nodal Power, engaged in the transformation of methane gas produced in landfills into electricity, announced on August 21, 2023, that it has raised $13 million in a seed round. The funds are aimed at constructing renewable energy power plants at landfill sites.
The company is actively converting landfill methane gas into electricity, and it has been reported that a portion of the generated power is being used for "Bitcoin mining."
According to multiple reports, Bitcoin mining is adopted as a "secondary tool used when the power grid's economic situation is not favorable." BTC mining is being conducted through data centers.
On Nodal Power's official website, the process of "converting methane gas generated at landfills into electricity at power plants, and supplying that electricity to the power grid and data centers" is explained.
Allocation of the Raised Funds
A significant portion of the newly raised funds has been reported to be allocated to the construction and operation of two existing power plants within the United States.
Site 1, located in the southwestern U.S., supplies electricity to local power companies and is equipped with a data center. Site 2, in the western mountainous region, operates a fully sustainable off-grid data center generated from landfill waste.
Furthermore, by early 2024, funds are planned to be invested in a third site in the U.S. All three sites generate electricity from methane gas produced by the decomposition of organic waste in landfills.
With the global increase in environmentally conscious mining facilities, such initiatives are expected to accelerate further in the future.