An Akron-based company has purchased property at the site of the former Niles power plant on Belmont Avenue.

According to the Trumbull County Auditor's website, the property was purchased March 31, 2025 for $4,201,830 by Akron-based company Magellan Scientific LLC.

At this time, it is unknown what the company plans to do with the property, but a real estate listing on Loopnet says the site is up for redevelopment for either a renewable energy site or manufacturing site.

According to the listing the site has a power grid, railroad spur and public utilities for most development needs.

Magellan Scientific LLC's website says the company focuses on "off-grid decentralized digital asset production in North America." According to the website, the company's operations support existing digital asset infrastructure and advanced computing systems within the United States.

21 News has reached out to Magellan Scientific LLC for further comment and we are waiting to hear back.