Digital Assets: Nodal Power Raises $13M For Converting Landfill Methane To Green Energy
The green energy is utilized in data centers and bitcoin mining operations.
Nodal Power, based in Utah, has successfully raised $13 million in a seed funding round for its innovative technology that converts landfill gas into energy to power Bitcoin mining centers. The company aims to reduce methane emissions from landfills by utilizing the gas for mining operations.
Instead of flaring or venting the methane, Nodal Power combusts it with a generator, producing electricity that benefits both local utilities and Bitcoin mining facilities. The company has already invested a significant portion of the funds in building and operating two power plants in the United States. (Bitcoin.com)
One plant in the Southeast generates electricity for a nearby utility and includes a Bitcoin data center, while the other in the Mountain West region operates a sustainable off-grid data center solely powered by landfill gas.
These facilities therefore utilize environmentally friendly electricity from the methane generated through the decomposition of organic waste in landfills.
Nodal Power’s approach holds promise for contributing to local energy markets and addressing overlooked resources in smaller landfills.
Other companies like Crusoe Energy, Vespene Energy, EZ Blockchain, and Equinor have also explored using flared or vented gas for Bitcoin mining.
Related Story: KPMG Issues Report On Bitcoin Mining And Its Favorable Impact On The Environment
Latest Alternative Investment News
Digital Assets: Epic Lays Off 830 Employees As Metaverse Underperforms
Earlier today, Tim Sweeney, the head of Epic Games, shared an email with the company’s employees, announcing some significant changes within the organization. In this message, Sweeney discussed the necessity…
Artificial Intelligence: Mysterious US-Based Books3 Dataset Used To Train AI Was A Massive Trove Of Pirated Books
Thousands of books penned by some of Australia’s most esteemed authors may have fallen victim to what Booker prize-winning novelist Richard Flanagan has described as “the biggest act of copyright…
FinTech: Ant’s Chongqing Consumer Finance Arm Raising $616M To Ramp Up Loans
Chongqing Consumer Finance, the consumer finance arm of Ant Group, a prominent player in China’s financial technology landscape, is currently in the process of raising a substantial sum of fresh…
Venture Capital: Mercury’s Fund V Mops Up $160M For US Startups “Between The Coasts”
Mercury Fund, the premier early-stage venture firm with a focus on non-coastal tech hubs, has successfully closed its largest fund to date, Mercury Fund V, with a total capital commitment…