To maintain high production and growing rates of plants, synthetically obtained fertilizers are commonly used. Excessive amounts of fertilizers damage the natural ecosystem and cause various environmental problems. In relation to the environment and its sustainability, another great environmental, economic, and social issue is food loss and waste. This paper aims to evaluate the impact of spent coffee grounds (SCG) on soil properties, rye growth, and their possibilities to be used as the biodegradable and organic material in the production of organic bulk fertilizer. This study demonstrated that spent coffee grounds contain primary nutrients; moreover, SCG could increase the content of soil organic matter. The addition of 4 wt% to 8 wt% SCG increased the number of spore-forming bacteria from <103 colony forming units/g soil (CFU/g soil) to 3 × 104 CFU/g soil, along with nitrogen assimilating bacteria (plain soil resulted in 5.0 × 105 CFU/g, and addition of SCG increased the value to 5.0 × 107 CFU/g). Since spent coffee grounds have a relatively high porosity and absorbance (25.3 ± 3.4 wt% in a water vapor environment and 4.0 ± 0.6 wt% in the environment of saturated sodium nitrate solution), they could be used to reduce the amount of water required for irrigation. To fully exploit their nutritional value for plants, spent coffee grounds were mixed with green algae biomass along with urea, and, during the research, higher value products (organic bulk fertilizer) were obtained.