From smelters to servers: Alcoa to cash in on crypto’s thirst for energy
CoinDesk
Alcoa is in advanced talks to sell its idle New York smelter to NYDIG to repurpose its existing power infrastructure for Bitcoin mining.Summary
Alcoa, the largest aluminum producer in the United States, is nearing a deal to sell its dormant Massena East smelter in upstate New York to the Bitcoin mining firm NYDIG. CEO Bill Oplinger expects the transaction to finalize by mid-year. The site is valuable to cryptocurrency miners due to its pre-existing high-capacity power infrastructure and access to low-cost, carbon-free hydropower from the New York Power Authority. This move aligns with an industry trend of repurposing retired industrial sites to expedite grid access for energy-intensive digital infrastructure projects, such as Bitcoin mining and artificial intelligence data centers.
(Source：CoinDesk)