Financial Wire

Market Chatter: Alcoa Nears Sale of New York Smelter Site to Bitcoin Miner NYDIG

-- Alcoa (AA) is in advanced discussions to sell its former Massena East smelter site in upstate New York to Bitcoin mining firm NYDIG as part of its plan to dispose of unused assets, Bloomberg reported Friday, citing an interview with chief executive officer Bill Oplinger.

The deal is expected to close around mid-year, Oplinger said, according to the report. The site was closed in 2014 by Alcoa as the business ceased to be competitive and it has access to hydropower from the New York Power Authority, the report added.

Alcoa and NYDIG didn't immediately reply to' request for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $65.38, Change: $-5.03, Percent Change: -7.14%

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