You take any 160-bit number you can think of (from 0x00, to 0xFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF), add a version byte in front of it (0x00 for mainnet), double hash the result with SHA256, take the first 4 bytes of this hash (which is called the checksum), extend your version byte plus 160-bit number with the checksum, and pass this final result through Base58Check encoding.

It's highly likely that it's a burning address. However, any coin sent is not provably removed from supply. There are about 2^96 valid Bitcoin private keys that can unlock these outputs.