American cryptocurrency startup mines bitcoins from garbage

Nodal Power, a cryptocurrency startup from the United States, has announced the completion of a $ 13 million seed round. The company has built two processing plants and spends the excess energy on mining BTC.

The company is trying to reduce methane in landfills by converting gas into electricity. The lion’s share is sent to the grid, and the surplus is used to run mining «farms».

«By burning methane in the generator, Nodal Power reduces carbon dioxide emissions significantly more efficiently than other recycling methods, ensuring the efficient use of resources that would otherwise be wasted,» the crypto startup said in a press release.

The company said it has already launched two power plants in the United States. The company plans to build another one in early 2024.

Interestingly, bitcoin mining was not the startup’s goal. The company plans to develop a new mechanism for methane processing, but does not want to lose a profitable opportunity. The company’s co-founder Matthew Jones said this in a comment for Decrypt: «Cryptocurrency mining is a secondary tool that we use when the network economics are not so favorable. We only mine in our data centers.»

nodal Power’s «farm» is located at the smaller of the two facilities. The generator powers about 500 installations with a total hashrate of 40 PH/s. The third facility will also host a mining farm with similar capacity.

The press release does not specify where exactly the Nodal Power centers are located. It should be noted that some states in the US support mining, such as Montana. Others do not.