Nodal Power Raised $13 Million Seed Round to Mine Bitcoin at Landfills
Nodal Power, a Utah-based company that develops and operates renewable energy power plants, announced that it has raised $13 million in funding to aggressively mitigate methane emissions at landfills.
- The seed round was led by Utah’s Spacestation Investments including many Utah angels such as Clarke Miyasaki (Skullcandy, Kickstart, Stance), Chris Bennett (97th Floor), Shaun McBride and Sean Holladay (Spacestation, Shonduras, A for Adley), Kirk Ouitmet (Scan, Snap), Tyler Stample (Portfolio Capital), Reno Mendenhall (REMI), Davis Bell (Canopy), Beau Oyler (Enlisted), the Tripps and Dedricksons (creators), and Greg Woodward (2.0 Ventures, Pluralsight).
- "Much of the funding has already been deployed to build and operate two power plants in the US. Site one, located in the southeast US, exports electricity generated by landfill gas to the local utility. This site is also equipped with a data center, which allows for economic dispatch between the utility and the data center."
- "Site two, located in the mountain west, runs a (first of its kind) fully sustainable off-grid data center powered by landfill gas."
- "Additional funds will be deployed at a third US site early 2024. All three sites produce renewable electricity from methane gas generated by the decomposition of organic waste at landfills."
“We’ve developed solutions, specifically for smaller landfills, that allow us to bring these overlooked resources to market. Our technology and energy-first approach have the potential to make a significant impact on local energy markets,” said Nodal Power CEO Bryan Black.
