Alcoa is in talks to sell its inactive Massena East aluminum smelter in upstate New York to bitcoin miner NYDIG, according to comments from Alcoa CEO Bill Oplinger in a Bloomberg report. interview.
The Massena East site is located along the St. Lawrence River and has been idle since 2014. The closure came after continued pressure from rising energy costs and global competition that has reduced domestic aluminum production. The facility spans 1,300 acres and contains heavy electrical infrastructure designed for continuous industrial use.
Alcoa is pursuing a broader plan to divest a group of dormant US smelter assets. The company has It has been identified Ten idle sites for potential sale as they shift focus toward higher-margin operations and reduce exposure to older, high-cost facilities. The Massena East property is one of the most advanced cases in this program.
NYDIG, a Bitcoin financial services company associated with Stone Ridge, It expanded its presence in industrial-scale mining infrastructure over the past two years. The company has built exposure to mining operations through partnerships and acquisitions, including an engagement with Coinmint at the Massena campus under a long-term lease structure tied to the site’s energy capacity.
The Massena East smelter draws power from the New York Power Commission’s hydroelectric system. Access to stable electricity supplies forms a key part of the location value of digital asset mining operations. Aluminum smelters require large and constant power inputs, and their network connections often remain intact after shutdown. This infrastructure reduces the time needed to convert to a data center or use mining.
NYDIG has a strategic stake in Coinmint, the operator of bitcoin mining equipment on the broader Massena campus. Coinmint hosted mining clients under existing arrangements tied to Alcoa’s royalty and energy agreements. The planned deal would transfer control of the smelter site itself to NYDIG and expand its operational footprint in the region.
Alcoa and NYDIG discussed the terms of a transfer structure that includes ownership of the land, electrical systems and remaining industrial assets. The two sides aim to complete the deal during the middle part of the year, pending final agreements and regulatory steps.
Bitcoin mining and high-performance computing
The proposed sale follows a broader trend across North America as retired aluminum smelters and other heavy industrial sites shift toward using digital infrastructure. These locations offer significant power connections, transportation access, and industrial zoning that are suitable for Bitcoin mining and high-performance computing workloads.
Century aluminum complete A similar deal involved its smelter in Hawesville, Kentucky, which was sold to TeraWulf for redevelopment into a data center and computing campus. This deal reflects the growing demand for sites with guaranteed power capacity.
NYDIG continues to build its position in Bitcoin mining through the acquisition of energy-related assets and mining operations across multiple US states. The company has acquired capacity in North Dakota, South Dakota, Pennsylvania and Missouri, and has added additional mining infrastructure through separate transactions involving energy-focused companies.
The Alcoa-NYDIG deal, if completed, would place one of the largest aluminum production sites in the United States under Bitcoin mining ownership and expand the reuse of legacy industrial energy infrastructure for digital asset operations.
