Alcoa Plans to Sell New York Smelter to NYDIG for Bitcoin Mining

Alcoa's Massena East aluminum smelter ceased production in 2014 and has been leased to Coinmint for Bitcoin mining since 2018. Located near hydroelectric facilities on the St. Lawrence River, the site retains high-voltage transmission and substation infrastructure, reflecting a shift in traditional heavy-industry assets toward energy-intensive digital computing.

Alcoa CEO Bill Oplinger confirmed on April 17, 2026, that the company was in advanced talks to sell the site to NYDIG, with completion expected by midyear. The transaction value has not been disclosed. The facility has an approved power capacity of 435 MW, currently uses about 166 MW and hosts approximately 54,000 mining machines. NYDIG invested in Coinmint in October 2024.