Video "Recycling Machinable Wax" is 3 1/2 minutes long.
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Machinable wax can be recycled and used multiple times. You'll need a way to melt the wax to 290 degrees F and a mold to pour the melted wax into. Aluminum molds usually work best. You can either fabricate a large custom mold or use a simple baking tin for small projects.

Make sure that you use safe practices and don't heat the wax over 300 degrees F.

There are many commercial ovens available for melting large quantities. One rather unique (and inexpensive) method that we have seen for heating small batches on a limited budget is the Presto Cooking Kettle. It has a variable thermostat that provides more control than the typical high-medium-low settings on some appliances.