The potential sale of Alcoa's long-idle Massena East smelter in upstate New York is nearing completion, with discussions reportedly advancing between the aluminium giant and Bitcoin mining firm New York Digital Investment Group (NYDIG). CEO Bill Oplinger indicated that the deal is expected to finalize in the middle of this year, according to Bloomberg. The smelter, which has been out of operation since 2014 due to high energy costs and competition, offers significant advantages for energy-intensive operations.
Located along the St. Lawrence River, the Massena East site includes critical infrastructure such as substations and high-capacity grid connections, making it appealing to Bitcoin miners and data center operators. The facility's access to hydropower from the New York Power Authority is particularly attractive for firms looking for low-cost energy alternatives.
This move aligns with a broader trend of repurposing retired industrial sites across the United States for digital infrastructure. Earlier this year, Century Aluminum sold its Hawesville smelter to TeraWulf for $200 million, with plans to transform it into a computing and AI facility. NYDIG's expansion in the Bitcoin mining sector reflects a shift among miners toward diversifying into AI and cloud computing in response to the challenges of traditional mining profitability.