In many industries, scrap or waste is generated as part of the manufacturing process or after the equipment is worn out. This scrap or waste is of some value to recyclers, who process and sell it. (some offers from other industries have been posted on this blog earlier)
Everyday thousands of domains for the major gTLDs expire due to a number of reasons like
1.The website is no longer needed by the original registrant
2.The company for whom the domain was registered no longer exists
3.Domain registrant has forgotten to pay the renewal fees
4. The company which has been used to register the domain is out of business
Similarly, though these expired domains are of no value to the original registrant, a new registrant may be able to “process” the domain, by converting it into a website or by other means and earn some money. It is a win win situation for both the registrant and the registry, the registrant can increase revenues and the registry can boost the number of registrations for the particular GTLD.