A composition for pelletized bitumen and a method for preparing the same is disclosed. The composition is comprised of: between approximately 30% to approximately 40% by weight of bitumen; between approximately 15% to approximately 30% by weight of stiffening compound; between approximately 35% to approximately 45% by weight of setting compound; and approximately 0.05% by weight of water. The stiffening compound is comprised of between approximately 10% to approximately 20% by weight of ground asphalt shingles; between approximately 5% to approximately 10% by weight of vulcanized rubber; between approximately 1% to approximately 2% by weight of uintahite; and up to approximately 0.5% by weight of zeolite. And the stiffening compound may be Type II Portland cement.