Alcoa nears deal to sell smelter site

Alcoa Corporation is reportedly in the final stages of negotiations to sell a former aluminum smelter property located in upstate New York. The prospective buyer is NYDIG, a firm specializing in Bitcoin mining operations. This potential transaction is part of Alcoa's broader strategy to divest its non-operational or dormant assets. The sale of the smelter site to a cryptocurrency mining company signifies a shift in the property's intended use and reflects the ongoing efforts by traditional industrial companies to manage their portfolios.