#BitDigital转型 From the data, the growth far exceeded expectations, which is indeed quite surprising. Once this data was released, the impact on the market was immediate, with the three major U.S. stock index futures plunging short-term, and the previously optimistic cryptocurrency market also plummeting across the board, with over 210,000 people liquidated. 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 changes in the Federal Reserve's monetary policy, and expectations for interest rate hikes may increase, affecting the liquidity of funds. Cryptocurrency mining companies are already capital-intensive industries, whether it is purchasing mining machines or building mining farms, all require substantial funds. If the financing environment worsens, costs will increase significantly.

Take Bit Digital, for example; during its transformation, it needs to invest funds into new digital asset management businesses. If at this time, due to macroeconomic fluctuations, funds are tight, then the expansion of the new business will be hindered, which will affect 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 adds many uncertainties to the long-term value assessment of cryptocurrency mining companies.