#BitDigital转型 From the data, the growth that far exceeded expectations 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, and the previously favored 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 imply changes in the Federal Reserve's monetary policy, with increased expectations for interest rate hikes, which would affect the liquidity of funds. Cryptocurrency mining companies are already capital-intensive industries; whether purchasing mining machines or building mining farms, they require substantial amounts of capital. If the financing environment worsens, costs will increase significantly.

Take Bit Digital, for example, which, during its transformation, needs to invest funds into the new digital asset management business. If, at this time, due to macroeconomic fluctuations, funding becomes tight, the expansion of the new business will be hindered, thus affecting the company's long-term value. From the cost side, 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 has added a lot of uncertainty to the long-term value assessment of cryptocurrency mining companies.