From the data, the growth that far exceeded expectations is indeed quite surprising. As soon as this data came out, the impact on the market was immediate, with the three major U.S. stock index futures plunging in the short term, and the previously optimistic cryptocurrency market also experiencing a significant drop, with over 210,000 people facing liquidation. This indicates that the market is very sensitive to inflation data.

For cryptocurrency mining companies, such significant fluctuations in macroeconomic data are not good news. Rising inflation data may mean that the Federal Reserve's monetary policy will change, and the expectations for interest rate hikes may increase, which will affect the liquidity of funds. Cryptocurrency mining companies are already capital-intensive industries, whether it is purchasing mining machines or building mining sites, all require a large amount of capital. If the financing environment worsens, costs will increase significantly.

Take Bit Digital, which was mentioned earlier, as an example. During its transformation process, it needs to invest funds into its new digital asset management business. If at this time, due to macroeconomic fluctuations, funds become tight, then the expansion of the new business will be hindered, thereby affecting the company's long-term value. From the cost perspective, energy prices may rise due to inflation, and mining is highly dependent on electricity, which will further squeeze the profit margins of mining operations. Therefore, the U.S. July PPI data exceeding expectations adds many uncertainties to the long-term value assessment of cryptocurrency mining companies. #美国7月PPI年率高于预期 #BitDigital转型