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The urgent need to address climate change, driven by the increasing concentrations of greenhouse gases, has made it imperative for the world to focus on enhancing carbon emission mitigation and carbon utilization. Consequently, carbon-negative technologies have garnered significant attention, such as Carbon Capture, Utilization, and Storage (CCUS). In order to achieve the circular utilization of carbon and improve the economic viability of conventional carbon-negative technologies, this paper proposes the innovative concept of Carbon Capture, Circular Utilization, and Sequestration (CCCUS). This multifunctional carbon-negative technology couples underground biomethanation of carbon dioxide and hydrogen-rich industrial by-product gases with geothermal energy production. CCCUS also offers several additional functions, such as renewable natural gas storage, natural gas displacement, and carbon dioxide geological sequestration. Furthermore, a preliminary assessment of the techno-economic feasibility of CCCUS is undertaken. A numerical case study, conducted using the XGS gas storage in the Sichuan Basin, China, unveiled that over a 425-day period, the conversion ratio of carbon dioxide to methane in the working gas can achieve 98.9%. Moreover, the net present value (NPV) of CCCUS over a 30-year period is estimated to be approximately 4.67 × 108 CNY under the base scenario. These findings, along with field monitoring and laboratory experiments, preliminarily present evidence supporting the potential techno-economic feasibility of CCCUS. This paper offers a fresh perspective on the development of the circular carbon economy. [ABSTRACT FROM AUTHOR]