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Crypto News - Archive

Nodal Power Raises $13M to Fuel Green Bitcoin Mining with Landfill Gas Energy

Author

Jay Solano

Tags

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Category

Crypto News - Archive

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Reading time

2 mins
Last update

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nodal power

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Utah-based company Nodal Power recently secured a $13 million seed funding round aimed at expanding its innovative green technology that converts landfill gas into energy. The company specializes in turning methane emissions from landfills into usable energy, specifically for powering Bitcoin mining operations. This dual-purpose solution not only addresses environmental concerns related to methane emissions but also provides a renewable energy source for the growing field of cryptocurrency mining.

Nodal Power’s process involves combusting the methane gas, usually flared or vented from landfills, to generate electricity. This electricity is then distributed to local utility services as well as Bitcoin mining centers. A significant portion of the newly raised funds will go toward the construction and operation of two power plants in the United States. The first plant, located in the Southeast, uses landfill gas to power both a local utility and a Bitcoin data center. The second facility, located in the Mountain West, is focused on building an entirely sustainable, off-grid data center powered solely by landfill gas.

CEO Bryan Black highlighted the company’s unique value proposition, especially for smaller landfills. “We’ve developed solutions that allow us to tap into these overlooked resources and bring them to market,” Black said. “Our technology has the potential to significantly impact local energy markets by providing a green, sustainable solution.”

Nodal Power is not alone in this niche; companies like Crusoe Energy, Vespene Energy, EZ Blockchain, and Alkane Midstream also offer technologies that use flared or vented gas for Bitcoin mining. Even larger entities like Equinor and YPF Luz have dabbled in similar practices.

The seed funding will also facilitate plans for a third power plant, slated for construction in the United States by early 2024. All these initiatives align with the broader goal of making Bitcoin mining more sustainable while also addressing the problem of methane gas emissions from landfills.