Alcoa is nearing a deal to transfer its inactive Massena East facility in upstate New York to NYDIG, a Bitcoin mining company.

Key Takeaways

• Alcoa is finalizing an agreement to sell its dormant Massena East smelter in upstate New York to Bitcoin mining company NYDIG, with the transaction anticipated to wrap up by mid-2026.
• Although the facility ceased aluminum production in 2014, its robust electrical infrastructure and direct connection to carbon-free hydropower make it highly attractive for energy-intensive digital operations.
• This transaction parallels TeraWulf’s recent acquisition of a Century Aluminum plant in Kentucky.

As the largest aluminum producer in the U.S., Alcoa is nearing a deal to transfer its inactive Massena East facility in upstate New York to NYDIG, a Bitcoin mining company, as it divests dormant assets and capitalizes on the demand for energy-ready industrial sites.

Bill Oplinger, the company’s chief executive officer, stated that the company is in advanced talks and expects the deal to close «in the middle part of this year,» Bloomberg reports.

The site, located along the St. Lawrence River, has sat idle since 2014 when Alcoa shut it down due to high operating costs and global competition.

The appeal lies in the site’s power, not the metal itself. Aluminum smelters are built to run around the clock, drawing large amounts of electricity through dedicated substations and transmission lines. When they close, that infrastructure remains.

For bitcoin miners and data center developers, this can cut years off the time required to secure grid access.

Massena East also has access to hydropower from the New York Power Authority, a draw for firms seeking low-cost and carbon-free energy.

The deal reflects a broader shift. Earlier this year, Century Aluminum sold a Kentucky smelter to TeraWulf (WULF), which plans to build a digital infrastructure campus supporting high-performance computing and AI.