PANews reported on April 19th that, according to Cointelegraph, Alcoa is reportedly close to reaching an agreement to sell its long-dormant Massena East aluminum smelter in New York State to Bitcoin mining company NYDIG. Alcoa 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 helps reduce energy costs and enhance its low-carbon profile.

This move comes as the trend of transforming industrial land in the United States into digital infrastructure intensifies. Previously, Century Aluminum sold its Hawesville, Kentucky smelter to TeraWulf for $200 million, with plans to convert it into a high-performance computing and AI data center.

Meanwhile, NYDIG continues to expand its Bitcoin mining footprint and has acquired a stake in mining company Coinmint. As mining profits come under pressure, several mining companies, including MARA, Hive, and Hut 8, are accelerating their transformation towards AI and cloud computing infrastructure.