Alcoa, the largest US aluminum producer, is on the verge of selling its dormant Massena East smelter in upstate New York to New York Digital Investment Group, a Bitcoin mining company, as part of its strategy to divest idle assets and capitalize on the growing demand for energy-intensive industrial sites. According to Alcoa's CEO, Bill Oplinger, the deal is expected to be finalized by 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. However, its appeal lies in its existing power infrastructure, which is ideal for bitcoin miners and data center developers seeking to reduce the time and complexity associated with securing grid access. Furthermore, the site benefits from access to low-cost, carbon-free hydropower from the New York Power Authority, making it an attractive location for companies seeking sustainable energy solutions. This transaction reflects a larger trend, as evidenced by Century Aluminum's recent sale of a Kentucky smelter to TeraWulf, which plans to develop a digital infrastructure campus supporting high-performance computing and artificial intelligence applications.