The carbon monoxide dehydrogenase/acetyl-CoA synthase (CODH/ACS) from Methanosarcina thermophila is part of a five-subunit complex consisting of ␣, , ␥, ␦, and ⑀ subunits. The multienzyme complex catalyzes the reversible oxidation of CO to CO 2 , transfer of the methyl group of acetyl-CoA to tetrahydromethanopterin (H 4 MPT), and acetyl-CoA synthesis from CO, CoA, and methyl-H 4 MPT. The ␣ and ⑀ subunits are required for CO oxidation. The ␥ and ␦ subunits constitute a corrinoid iron-sulfur protein that is involved in the transmethylation reaction. This work focuses on the  subunit. The isolated  subunit contains significant amounts of nickel. When proteases truncate the  subunit, causing the CODH/ACS complex to dissociate, the amount of intact  subunit correlates directly with the EPR signal intensity of Cluster A and the activity of the CO/acetyl-CoA exchange reaction. Our results strongly indicate that the  subunit harbors Cluster A, a NiFeS cluster, that is the active site of acetyl-CoA cleavage and assembly. Although the  subunit is necessary, it is not sufficient for acetyl-CoA synthesis; interactions between the CODH and the ACS subunits are required for cleavage or synthesis of the C-C bond of acetyl-CoA. We propose that these interactions include intramolecular electron transfer reactions between the CODH and ACS subunits.