Nodal Power, an innovative company that harnesses the latent energy potential of landfills to power Bitcoin mining data centers, has successfully secured $13 million in a seed funding round.
The funds will be dedicated to the ambitious goal of significantly curbing methane emissions from landfills while capitalizing on their untapped energy resources.
This environmentally conscious initiative aims to transform landfill gas into renewable energy, with the additional benefit of powering Bitcoin mining operations.
Nodal Power’s innovative approach involves combatting methane emissions from landfills by utilizing the gas to power Bitcoin mining data centers.
The company’s efforts not only mitigate methane emissions but also leverage the energy potential of the gas, effectively converting a harmful greenhouse gas into a valuable energy source. The funding boost will play a crucial role in furthering this mission.
A significant portion of the newly raised funds has already been allocated to construct and operate two power plants within the United States.
The first plant, situated in the southeast US, feeds electricity generated from landfill gas into the local utility grid. This site includes a data center that efficiently distributes energy between the utility and the center.
The second plant, located in the mountain west region, stands out as an off-grid Bitcoin mining data center, powered by landfill gas.
Future plans include the allocation of additional funds for a third site, set to begin development in early 2024. All three sites share a common objective: tapping into renewable electricity sourced from methane gas produced during organic waste decomposition in landfills.