I have one almost exactly like that, the bottom is cut off, and use it for composting kitchen and yard scraps. When I need to 'turn' the pile, I simply pick it up, move it a couple of feet and pitchfork the debris back in. Usually adding layers of used coffee grounds from Starbucks and any dead leaves or grass clippings I have, water each layer. Cover the top layer with straw to control flies and moisture loss.

Not sure how well it would work for worms. It seems a bit too deep for that. Maybe someone else will offer an opinion on that.

I made a worm bin with a 32 gallon trashcan like this as well but I cut out an opening in the side and used coax cable to create a false bottom and use it as a flow through bin. I included a video of made of the different types of worm bins I have.