From smelters to servers: Alcoa to cash in on crypto’s thirst for energy

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email From smelters to servers: Alcoa to cash in on crypto’s thirst for energy Alcoa is in advanced negotiations to sell its dormant Massena East smelter in upstate New York to Bitcoin mining firm NYDIG. By Francisco Rodrigues Apr 18, 2026, 8:21 p.m. Make preferred on What to know : Alcoa is in advanced negotiations to sell its dormant Massena East smelter in upstate New York to Bitcoin mining firm NYDIG, with the deal expected to finalize by mid-2026. Though the site stopped producing aluminum in 2014, its intact, heavy-duty electrical infrastructure and direct access to carbon-free hydropower make it incredibly valuable for energy-hungry digital operations. The transaction mirrors TeraWulf's previous purchase of a Century Aluminum plant in Kentucky. The largest aluminum producer in the U.S., Alcoa, is close to selling its idle Massena East smelter in upstate New York to bitcoin firm New York Digital Investment Group (NYDIG), as it offloads dormant assets and taps demand for energy-ready industrial sites. The company’s chief executive officer, Bill Oplinger, said the company is in advanced talks and expects the deal to close “in the middle part of this year,” Bloomberg reports . The site, located along the St. Lawrence River, has sat idle since 2014 when Alcoa shut it down due to high operating costs and global competition. The appeal lies in the site's power, not the metal itself. Aluminum smelters are built to run around the clock, drawing large amounts of electricity through dedicated substations and transmission lines. When they close, that infrastructure remains. For bitcoin miners and data center developers, this can cut years off the time required to secure grid access. Massena East also has access to hydropower from the New York Power Authority, a draw for firms seeking low-cost and carbon-free energy. The deal reflects a broader shift. Earlier this year, Century Aluminum sold a Kentucky smelter to TeraWulf (WULF), which plans to build a digital infrastructure campus supporting high-performance computing and AI. Bitcoin Mining More For You AI is increasingly eating into VC fundings and here is how crypto firms are adapting By Francisco Rodrigues | Edited by Aoyon Ashraf 1 hour ago AI companies raised $242 billion (80% of global venture funding) in early 2026, with Gartner projecting total AI spending will reach $2.52 trillion this year. What to know : 40 cents of every crypto venture capital dollar in 2025 went to AI-focused firms, more than double the prior year, reflecting growing convergence between crypto and AI. AI companies raised $242 billion (80% of global venture funding) in early 2026, with Gartner projecting total AI spending will reach $2.52 trillion... Read full story Latest Crypto News AI is increasingly eating into VC fundings and here is how crypto firms are adapting 1 hour ago Binance and Bitget to probe RAVE’s 4,500% token surge as claims of insider-orchestrated rally grow 3 hours ago The Lightning Network isn’t ‘helplessly broken’ 3 hours ago Zondacrypto under fire as Poland's prime minister links exchange to legislative interference 6 hours ago Bitcoin 'plebs eat first' mining pool Parasite finds its second BTC block 7 hours ago Wrapped XRP goes live on Solana, broadening DeFi access for Ripple-linked token 7 hours ago Top Stories Bitcoin falls back to $76,000 as Iran shuts Hormuz again 15 hours ago How a quantum computer can be used to actually steal your bitcoin in '9 minutes' 16 hours ago Strategy proposes semi-monthly dividends on its popular STRC preferred stock 23 hours ago Sam Altman’s World project launches major upgrade to fight deepfakes and bots Apr 17, 2026 Ethereum co-founder Joseph Lubin warns of the dangers of AI being controlled by a few big tech firms 7 hours ago Stripe doubles down on blockchain and stablecoins, aiming to become 'AWS for money' 16 hours ago