From the data, the significantly higher-than-expected growth is indeed quite surprising. As soon as this data was released, the impact on the market was immediate, with the three major U.S. stock index futures plunging in the short term, and the previously promising cryptocurrency market also experiencing a widespread collapse, with over 210,000 people facing liquidation. This indicates that the market is very sensitive to inflation data.

For cryptocurrency mining companies, such large fluctuations in macroeconomic data are not good news. Rising inflation data may suggest changes in the Federal Reserve's monetary policy, with expectations for interest rate hikes potentially increasing, thus affecting the liquidity of funds. Cryptocurrency mining companies are capital-intensive industries that require substantial funding for purchasing mining machines and building mining farms. If the financing environment worsens, costs will significantly increase.

Take Bit Digital as an example; during its transformation, it needs to invest funds into new digital asset management businesses. If, at this time, due to macroeconomic fluctuations, funding becomes tight, the expansion of new businesses will be hindered, subsequently affecting the company's long-term value. From the cost perspective, energy prices may rise due to inflation, and mining heavily relies on electricity, which will further squeeze the profit margins of mining operations. Therefore, the U.S. July PPI data exceeding expectations has added considerable uncertainty to the long-term value assessment of cryptocurrency mining companies.