Cement is a widely used building material, with more than 4.4 billion metric tons produced in 2021. Unfortunately, the excessive use of cement raises several environmental issues, one of which is the massive amounts of CO2e produced as a by-product. Using recycled materials in the concrete mix is widely employed to solve this problem. A method for minimizing the use of natural cement by substituting it with secondary cementitious material that consists of wood–cement board manufacturing waste has been studied in this paper. The cement in the waste stream was reactivated by a mechanical treatment method—the use of a planetary mill, allowing it to regain its cementitious properties and be used as a binder. Physical and mineralogical analysis of the binder material was performed using X-ray diffraction (XRD), thermogravimetry/differential thermal analysis (TG/DTA) and Brunauer–Emmett–Teller analysis; granulometry and compressive strength tests were also carried out. The results show that the grinding process did not significantly change the mineralogical composition and the specific surface area; it did, however, affect the compressive strength of the samples prepared by using the reactivated binding material; also, the addition of plasticizer to the mix increased compressive strength by 2.5 times. Samples were cured in high-humidity conditions. The optimal water-to-binder (W/B) ratio was found to be 0.7 because of the wood particles that absorb water in their structure. Compressive strength increased as the grinding time increased.