Alcoa plans to sell an idle smelter to NYDIG, while Bitcoin mining companies are accelerating their deployment of energy infrastructure.

Alcoa is reportedly close to a deal to sell its long-dormant Massena East aluminum smelter in New York State to Bitcoin mining company NYDIG. CEO Bill Oplinger stated that the transaction is expected to close by mid-year. The smelter, which closed in 2014 due to rising energy costs and increased global competition, possesses well-developed infrastructure including substations, transmission lines, and high-capacity grid access, making it highly attractive to Bitcoin mining farms and data center operators. Furthermore, the site has access to hydroelectric power from the New York State Electricity Authority, which will help reduce energy costs and enhance its low-carbon profile. This move comes at a time when the trend of transforming industrial land in the United States into digital infrastructure is gaining momentum. Previously, Century Aluminum sold its Hawesville, Kentucky smelter to TeraWulf for $200 million, planning to convert it into a high-performance computing and AI data center. Meanwhile, NYDIG continues to expand its Bitcoin mining footprint and already holds a stake in mining company Coinmint. With mining profits under pressure, several mining companies, including MARA, Hive, and Hut 8, are accelerating their transformation towards AI and cloud computing infrastructure. (Cointelegraph)