hydropower

NYDIG

2026-07-08 14:40:17

NYDIG Nears Deal to Buy Alcoa’s Massena Smelter Site for 435 MW Bitcoin Mining Expansion

NYDIG is reportedly in advanced talks to acquire Alcoa’s idle Massena East smelter site in New York, a 435 MW hydropower-connected campus already used for bitcoin mining and home to roughly 54,000 machines.

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bitcoin minin

2026-07-08 14:34:15

NYDIG in Advanced Talks to Buy Alcoa's Massena Smelter for Bitcoin Mining

NYDIG is nearing the acquisition of Alcoa's idle Massena East aluminum smelter in New York, a 435 MW hydropower site already hosting ~54,000 bitcoin miners. The deal is expected to close by mid-2026, marking another major expansion for the mining infrastructure firm.

1940

Bitcoin minin

2026-07-04 04:00:14

Phoenix Group Expands Bitcoin Mining Footprint Beyond 500 MW Global Capacity

Phoenix Group has expanded its Bitcoin mining operations in Ethiopia by adding 52 megawatts of new capacity, bringing its total in the country to 132 megawatts and pushing its global operating capacity above 500 megawatts. The development, announced on April 29, 2025 in a press release sent to Bitcoin Magazine, strengthens the company’s standing as one of the world’s top ten Bitcoin miners and highlights its strategy of targeting energy-rich markets with low-cost power.<p>The new Ethiopian site will be developed in two stages. Phase 1 will activate 20 megawatts using 5,300 high-efficiency air-cooled mining machines, delivering 1.2 EH/s of hash rate. Phase 2, expected by the end of Q2 2025, will add 32 megawatts and use hydro-cooling technology, doubling the site’s total output to 2.4 EH/s. This staged rollout shows how large mining firms are balancing fast deployment with long-term efficiency upgrades.</p><p>A major part of the announcement is the project’s energy profile. More than 90% of the electricity powering Phoenix’s Ethiopian operations comes from the Grand Ethiopian Renaissance Dam, one of Africa’s largest renewable hydropower sources. Company executives Munaf Ali and Reza Nedjatian framed the expansion as both a scale milestone and a sustainability milestone, positioning the project as a model for large-scale green Bitcoin mining in Africa and beyond.</p>

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Phoenix Group

2026-07-02 20:00:14

Phoenix Group Amps Up Bitcoin Mining Power to Over 500 Megawatts Globally, New Ethiopian Site Powered by Hydropower

On April 29, 2025, Phoenix Group announced a major expansion in Ethiopia, adding 52 MW of Bitcoin mining capacity for a total of 132 MW in the country. The company's global capacity now exceeds 500 MW, reinforcing its position among the top ten Bitcoin miners worldwide. The new site is being built in two phases: Phase 1 deploys 5,300 high-efficiency air-cooled miners delivering 1.2 EH/s, while Phase 2 (expected Q2 2025) adds 32 MW with hydro-cooling technology, doubling the hash rate to 2.4 EH/s. More than 90% of the energy comes from the Grand Ethiopian Renaissance Dam, making this one of the most sustainable large-scale Bitcoin mining projects globally. The announcement underscores Phoenix Group's commitment to expanding in low-cost, renewable energy markets.

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Alcoa

2026-07-02 04:20:14

Alcoa in Talks to Sell Idle New York Smelter to NYDIG for Bitcoin Mining: A New Trend of Industrial Repurposing

Alcoa is negotiating with bitcoin mining firm NYDIG to sell its idled Massena East aluminum smelter in upstate New York, a site idle since 2014 spanning 1,300 acres with heavy electrical infrastructure and access to hydropower. The deal would transfer control of one of the largest US aluminum production sites to bitcoin mining ownership, following a broader trend of retired industrial facilities being converted for digital asset mining and high-performance computing. The article details the transaction terms, NYDIG's strategic stake in Coinmint, its nationwide power-linked asset acquisitions, and similar precedents like Century Aluminum's sale to TeraWulf.

550

Alcoa

2026-07-02 04:00:14

Alcoa Nears Sale of Idle New York Smelter to NYDIG for Bitcoin Mining Use

Alcoa is in advanced talks to sell its idle Massena East aluminum smelter in upstate New York to bitcoin financial services firm NYDIG, CEO Bill Oplinger confirmed. The facility, shut since 2014, spans 1,300 acres with hydropower access from the New York Power Authority. NYDIG already operates mining equipment at the site through its strategic stake in Coinmint. The deal reflects a growing trend of repurposing heavy industrial sites for digital infrastructure, including Century Aluminum's sale of its Hawesville smelter to TeraWulf. Closing is expected by mid-2026.

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