ALCOA NEARS DEAL TO SELL NY SMELTER TO BITCOIN MINER

The aluminum company is disposing of idle assets through the potential sale to New York Digital Investment Group (NYDIG). The former smelter represents a large industrial facility with substantial power infrastructure—a key requirement for Bitcoin mining operations. NYDIG, which has expanded mining activities across North America, sees value in repurposing the shuttered plant. The site's existing electrical capacity makes it an attractive option for the energy-intensive process of cryptocurrency mining. Alcoa has been consolidating operations and divesting non-core assets. The transaction reflects broader trends in industrial real estate, where traditional manufacturing facilities are being converted for crypto operations. Terms of the deal were not disclosed. The sale, pending final approval, underscores how legacy industrial sites are finding new tenants in the digital economy.