Overview
- Alcoa said it is negotiating the sale of the idle Massena East smelter to NYDIG and expects to finish the transaction in the middle of 2026 if talks proceed as planned.
- The company framed the move as part of a plan to sell about ten dormant U.S. smelter properties to focus on higher-margin operations.
- NYDIG already has a foothold at the campus through its stake in Coinmint, which runs bitcoin mining there under a long-term lease with Alcoa.
- The 1,300-acre site, idle since 2014, retains substations, transmission lines, and New York Power Authority hydropower access that can speed a shift to data centers or bitcoin mining.
- A lawsuit by Coinmint investor Mintvest Capital claims NYDIG effectively acquired Coinmint for about $200 million, creating a legal dispute that could influence deal timing or terms.