{"id":71402,"date":"2026-04-20T10:37:22","date_gmt":"2026-04-20T10:37:22","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/nydig-close-to-buying-alcoas-massena-new-york-smelter-site-for-bitcoin-mining-operations\/"},"modified":"2026-04-20T10:37:22","modified_gmt":"2026-04-20T10:37:22","slug":"nydig-close-to-buying-alcoas-massena-new-york-smelter-site-for-bitcoin-mining-operations","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/nydig-close-to-buying-alcoas-massena-new-york-smelter-site-for-bitcoin-mining-operations\/","title":{"rendered":"NYDIG Close to Buying Alcoa&#8217;s Massena New York Smelter Site for Bitcoin Mining Operations"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<p><strong>Key Takeaways:<\/strong><\/p>\n<ul>\n<li>According to a recent report, Alcoa is in advanced talks to sell its Massena East smelter site to NYDIG, with a deal expected to close by mid-2026.<\/li>\n<li>The 435 MW New York facility already hosts ~54,000 <span>bitcoin<\/span> miners and NYDIG took a <span>stake<\/span> in Coinmint there in October 2024.<\/li>\n<li>NYDIG\u2019s acquisition follows its March 2025 agreement to buy Crusoe Energy\u2019s <span>bitcoin mining<\/span> business, adding over 270 MW of capacity.<\/li>\n<\/ul>\n<h2>NYDIG Eyes Full Control of Massena <span>Bitcoin Mining<\/span> Campus<\/h2>\n<p>The deal would transfer full ownership of the approximately 435 MW hydropower-connected campus along the St. Lawrence River to <a href=\"https:\/\/news.bitcoin.com\/googles-quantum-breakthrough-quietly-inches-closer-to-breaking-bitcoin-nydig\/\">NYDIG<\/a>, which already holds a strategic <span>stake<\/span> in the site\u2019s existing <span>bitcoin mining<\/span> operation. Alcoa CEO Bill Oplinger <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-04-17\/alcoa-is-close-to-a-deal-to-sell-smelter-site-to-bitcoin-miner?embedded-checkout=true\" target=\"_blank\" rel=\"noopener noreferrer\">confirmed<\/a> in an April 17, 2026, interview that Alcoa is in advanced-stage negotiations, according to a report published by Jacob Lorinc of Bloomberg.<\/p>\n<p>Oplinger said the company expects the transaction to close around the middle of the year. The Massena East facility has operated as a <span>bitcoin mining<\/span> campus since 2018, when Alcoa signed a 10-year lease with Coinmint, which later rebranded its local operations as North Country Colocation Services. NYDIG invested in Coinmint in October 2024, giving it the ability to deploy its own mining rigs at the site.<\/p>\n<p>The campus reportedly draws about 166 MW of its approved 435 MW capacity and houses roughly 54,000 <span>bitcoin mining<\/span> units across six former aluminum smelting lines. Several third-party clients, including Cleanspark, Gryphon, and Bit Digital, have since exited the site.<\/p>\n<p>Alcoa has not disclosed financial terms. During its Q1 2026 earnings call on April 16, Oplinger described the prospective buyer as a prior partner at the site working on a data center project, consistent with Bloomberg\u2019s identification of NYDIG as the buyer.<\/p>\n<p>The Massena East site draws power from the New York Power Authority via the Moses-Saunders hydroelectric dam on the St. Lawrence River. <span>Bitcoin<\/span> miners and data center operators have targeted former aluminum smelters because the facilities were built for continuous, high-voltage industrial loads, leaving behind dedicated substations and transmission lines that bypass years of new grid interconnection timelines.<\/p>\n<p>Alcoa <a href=\"https:\/\/www.aluminummarketupdate.crugroup.com\/global-trade\/from-smelters-to-servers-a-deep-dive-into-alcoas-idled-sites\/\" target=\"_blank\" rel=\"noopener noreferrer\">originally idled<\/a> Massena East in 2014, citing high energy costs and global competition. The property spans approximately 1,300 acres and includes the full electrical infrastructure built for industrial-scale aluminum production.<\/p>\n<p>The sale is part of Alcoa\u2019s plan to divest roughly 10 dormant U.S. smelter sites. Oplinger said the company has been offering these properties to data center developers and <span>crypto<\/span> miners seeking large, pre-wired industrial footprints with utility-scale grid access.<\/p>\n<p>NYDIG has moved steadily to expand its physical <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-bitcoin-mining\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin mining<\/a> capacity. In March 2025, the firm <a href=\"https:\/\/news.bitcoin.com\/from-bitcoin-to-ai-crusoe-energy-sells-mining-arm-to-nydig\/\">reached<\/a> an agreement to acquire Crusoe Energy\u2019s <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-bitcoin-mining\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin mining<\/a> business, which carried more than 270 MW of operating capacity. Combined with other North American mining assets acquired in 2024, the Massena East purchase would give NYDIG direct ownership of a site it has been operating at for over a year.<\/p>\n<p>Alcoa <a href=\"https:\/\/finance.yahoo.com\/markets\/stocks\/articles\/alcoa-corp-aa-q1-2026-070319886.html\" target=\"_blank\" rel=\"noopener noreferrer\">reported<\/a> strong first-quarter 2026 earnings alongside the deal news, posting net income of $425 million and adjusted EBITDA of $595 million, driven by aluminum prices.<\/p>\n<p>The existing mining operation at Massena employs about 85 full-time workers across Massena and Plattsburgh. Expansion under NYDIG\u2019s ownership is expected to grow that workforce, with the Town of Massena having already updated local regulations to accommodate <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">cryptocurrency<\/a> and data mining operations.<\/p>\n<p>The deal follows a similar move by Century Aluminum, which sold its Hawesville, Kentucky smelter to <a href=\"https:\/\/news.bitcoin.com\/terawulf-eyes-250-500-mw-of-new-hpc-signings-annually\/\">Terawulf<\/a> for roughly $200 million in cash and equity for digital infrastructure use. Repurposing the Massena site for <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-bitcoin-mining\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin mining<\/a> avoids new power plant construction by routing existing hydropower capacity, a detail that has drawn interest from ESG-focused operators looking to run carbon-free digital infrastructure.<\/p>\n<\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/report-nydig-close-to-buying-alcoas-massena-new-york-smelter-site-for-bitcoin-mining-operations\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways: According to a recent report, Alcoa is in advanced talks to sell its Massena East smelter site to NYDIG, with a deal expected to close by mid-2026. The 435 MW New York facility already hosts ~54,000 bitcoin miners and NYDIG took a stake in Coinmint there [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":71403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/71402"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=71402"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/71402\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/71403"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=71402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=71402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=71402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}