Alcoa sells smelter to Bitcoin miner NYDIG

Alcoa is nearing a deal to sell its former Massena East aluminum smelter to Bitcoin mining firm NYDIG. The dormant facility, idled since 2014, possesses robust electrical infrastructure and direct access to carbon-free hydropower, making it highly attractive for energy-intensive digital operations. This strategic sale allows Alcoa to divest underutilized assets while capitalizing on the growing demand for industrial sites suitable for cryptocurrency mining and high-performance computing. The transaction follows a similar pattern seen with other aluminum plants being repurposed for digital infrastructure, highlighting a trend of industrial asset conversion.