Most will take the trade in phones, refurbish them, and resale them on a used market platform like backmarket. Anything not worth reselling I think is recycled.

Source: https://youtu.be/WHqxBlFuIXA?si=KC4xxIeI4qPf60QS

Was looking for a Furry server and yiffit was too funny for me not to join

That’s pretty much exactly what I have done. I’ve hosted Plex, and Matrix in the past. Plex I will host in the future but Matrix was too much for me to host on my own, but the experience of setting it up myself was definitely worth it.