I've read about how explosive "powders" can be anywhere near a flame, and my chemistry teacher did a cool experiment that demonstrated this which I still remember 45 years later.
So personally, I would not shovel sawdust onto an existing fire.
However, I make some biochar in restaurant warming trays inside my
wood stove. To get it to char more easily, I put a layer of Doug Fir Pinecones on top of 1/3 of the height of the tray of sawdust, then add another ~1/3 height of saw dust, then another layer of cones, then a final layer of sawdust. This is not going to make any great dent in the OP's boon of sawdust, but it does make a lovely fine biochar for me to add to my compost.
As a mulch, sawdust tends to compact and when that happens, it doesn't let water through, so I'd be more inclined to mix it with other materials and compost it.
If you could find a way to pelletize it, they use it that way for horse bedding in my area. Woody stuff in compost tends to take a long time to decompose, but that can be seen as an asset so long as you have space and patience. I like the idea of inoculating it with mushroom spores, but I have read that many mushrooms prefer hardwood than softwood, so you need to know what
wood is mostly being sawn.