Alcoa is finalizing the sale of its dormant Massena East aluminum smelter to NYDIG, a institutional bitcoin mining firm. The 1,300-acre upstate New York facility, shuttered since 2014 due to energy costs, represents a strategic conversion of industrial assets for cryptocurrency infrastructure.

The site's existing heavy electrical infrastructure makes it ideal for bitcoin mining operations. This transaction aligns with Alcoa's broader divestment strategy of ten idle US smelters as legacy industrial assets find new purpose in digital infrastructure projects.

NYDIG's acquisition signals growing institutional demand for mining facilities in energy-rich regions. The deal highlights how bitcoin mining is repurposing dormant industrial sites across North America, particularly those with pre-existing power infrastructure.