Alcoa Sells Massena East Smelter to NYDIG
Analysis based on 11 articles · First reported Apr 18, 2026 · Last updated Apr 20, 2026
The potential sale of Alcoa's Massena East smelter to New York Digital Investment Group highlights the growing trend of repurposing industrial sites for digital infrastructure, particularly Bitcoin mining. This indicates continued investment in the cryptocurrency sector while also showcasing diversification efforts by some miners into AI and cloud computing.
US aluminum giant Alcoa is reportedly nearing a deal to sell its long-idle Massena East smelter in upstate New York to Bitcoin mining firm New York Digital Investment Group. The site, inactive since 2014, is attractive to Bitcoin miners due to its pre-existing heavy industrial infrastructure and hydropower supply from United States===New York Power Authority. This potential sale is part of a broader trend in the United States where retired industrial sites are being repurposed for digital infrastructure. New York Digital Investment Group has been expanding its Bitcoin mining footprint, having previously acquired Crusoe Energy Systems's Bitcoin mining business and holding a stake in Coinmint. Meanwhile, other miners like MARA Holdings, Hive Blockchain Technologies, Hut 8 Mining, TeraWulf, and Iris Energy are diversifying into AI and cloud computing due to shrinking margins in mining, with some like CoreWeave fully transitioning to AI-focused infrastructure.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard