Alcoa, the largest US aluminum producer, is on the verge of selling its unused Massena East smelter in upstate New York to New York Digital Investment Group (NYDIG), a Bitcoin mining firm, as it capitalizes on the demand for energy-intensive industrial sites. According to CEO Bill Oplinger, the company is in advanced negotiations and anticipates the deal will be finalized mid-year, as reported by Bloomberg.
The site, situated along the St. Lawrence River, has been inactive since 2014 due to high operational costs and global competition. Its appeal lies not in aluminum production but in its existing power infrastructure, which is ideal for bitcoin miners and data center developers seeking to reduce the time it takes to secure grid access.
The site's access to hydropower from the New York Power Authority is also a significant draw for companies looking for low-cost, carbon-free energy. This sale reflects a larger trend, as seen in Century Aluminum's sale of a Kentucky smelter to TeraWulf earlier this year, which plans to build a digital infrastructure campus for high-performance computing and AI.