Mining energy company Nodal Power raises $13 million

08/22 14:10

Nodal Power completed a financing of $13 million this week, with angel investors including Clarke Miyasaki of Stance Socks and Chris Bennett, founder and chairman of marketing agency 97th Floor. Nodal Power collects leaked methane gas and uses it to power Bitcoin mining data centers. In a recent report, KPMG found that if enough companies adopt this practice, burning methane gas can actually reduce methane emissions. The report claims that there is enough methane burning in the US and Canada to power the entire Bitcoin network. Nodal Power owns and operates two mining data centers in the US and provides power to them, with a third expected to come online in early 2024. The company also owns and operates power plants that deliver electricity to the data centers.

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