Market Chatter: Alcoa Nears Sale of New York Smelter Site to Bitcoin Miner NYDIG
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Alcoa is in advanced talks to sell its former Massena East smelter site in New York to Bitcoin miner NYDIG, as part of its strategy to offload unused assets. The deal is expected to finalize around mid-year, according to CEO Bill Oplinger. The site, closed in 2014 due to competitiveness issues, has access to hydropower from the New York Power Authority. Alcoa's stock price is currently at $65.38, down 7.14%.
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