Nodal Power, a company that converts landfill gas into energy for Bitcoin mining, has raised $13 million in seed funding. The funding will be used to build and operate two power plants in the United States, with plans for a third location by 2024. The first plant in the Southeast will provide electricity to the local utility and feature a bitcoin data center. The second plant in the Mountain West aims to create a sustainable off-grid data center powered solely by landfill gas. Nodal’s technology reduces methane gas emissions from landfills and promotes an economic balance between bitcoin mining and utility services. Other companies, including Crusoe Energy and Vespene Energy, offer similar services using flared or vented gas for Bitcoin mining.
Hot Take:
Nodal Power’s innovative approach not only reduces methane gas emissions but also harnesses the energy for Bitcoin mining. By utilizing overlooked resources from smaller landfills, they have the potential to make a significant impact on local energy markets. With the increasing demand for sustainable energy solutions in the crypto industry, Nodal Power’s model can pave the way for more environmentally friendly mining practices.
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