You don't have to cut it up. It looks like a fresh tight barrel that will be a good candidate for re-use.
If you can afford a lot of inexpensive whiskey then work up a tasty vatting and dump it in. Tasting as it ages will be be loads of fun and teach you a lot about how whiskey ages.
Or do like we did and get a group of friends together and share the cost of the whiskey to be dumped in. Have a party or get together every 6 months for tastings.