PANews April 19 news, according to Cointelegraph, American aluminum company Alcoa is reportedly close to reaching an agreement to sell its long-closed Massena East aluminum smelter in New York State to Bitcoin mining company NYDIG. Company CEO Bill Oplinger stated that the transaction is expected to be completed by mid-year.

The smelter has been closed since 2014 due to rising energy costs and intensified global competition. It has well-established infrastructure including substations, transmission lines, and high-capacity grid access, making it highly attractive for Bitcoin mining and data center operators. Additionally, the site has access to hydropower resources provided by the New York Power Authority, which helps to reduce energy costs and enhance low-carbon attributes.

This move comes as the trend of converting industrial land for digital infrastructure in the U.S. is gaining momentum. Previously, Century Aluminum sold its Hawesville smelter in Kentucky for $200 million to TeraWulf, with plans to transform it into a high-performance computing and AI data center.

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

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