From smelters to servers: Alcoa to cash in on crypto’s thirst for energy

Alcoa is in advanced negotiations to sell its dormant Massena East smelter in upstate New York to Bitcoin mining firm NYDIG. What to know : Alcoa is in advanced negotiations to sell its dormant Massena East smelter in upstate New York to Bitcoin mining firm NYDIG, with the deal expected to finalize by mid-2026. Though the site stopped producing aluminum in 2014, its intact, heavy-duty electrical infrastructure and direct access to carbon-free hydropower make it incredibly valuable for energy-hungry digital operations. The transaction mirrors TeraWulf's previous purchase of a Century Aluminum plant in Kentucky.