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Core PPI inflation jumped to 5.0%, the highest level since 2022.The core PPI reached 3.0% and has risen in four of the last five months.

rising inflation could increase interest in #cryptocurrencies as a safe investment.
Recent data suggests that inflation in the US may be on the rise again. According to new data, the Producer Price Index (PPI) rose to levels not seen in 15 years. If inflation starts to rise again, it could impact various financial markets, including cryptocurrencies.
The #core Producer Price Index (PPI) jumped to 5.0% in June, the highest level since 2022. This is a sharp increase, more than doubling in just six months. This inflation rate is higher than at any time in the past 15 years, except for the sharp increases seen in 2021 and 2022.
June, core PPI inflation (three-month annualized rate) jumped to 5.0%, the highest rate since 2022. This is the highest rate since 2022.
It is also higher than at any time in the past 15 years, except for 2021 and 2022.
Overall, core PPI inflation was 3.0% in June, reflecting a steady upward trend in four of the past five months. This increase indicates that inflationary pressures remain strong, even though several other inflation indicators are showing declines.
the Consumer Price Index (CPI), which reflects inflation at the consumer level, declined, while the core price index continues to rise. On the other hand, this difference indicates ongoing inflationary risks that need to be addressed.
the rise in the core price index could have several implications for the #cryptocurrency market. Historically, people have turned to cryptocurrencies like #BTC and #BTC as a way to protect their investments from inflation. When inflation rises, more investors buy cryptocurrencies, leading to higher cryptocurrency prices.
But rising inflation often leads to higher interest rates and tighter monetary policy.

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As of December 24, bitcoin's 2024 return was 113%, but the stock prices of most miners failed to capitalize on the cryptocurrency's rise and ended the year in the negative According to

Hashrate Index and Google Finance, listed miners ended 2024 in the negative for most of them, with a drop of 84%. Of the 25 miners listed in the
index, only seven made investors a profit last year. At the time of writing, Bitdea (BTDR) is up 167%, Cipher (CIFR) is up 33%, Hat8 (HUT) is up 91%, Iris Energy (IREN) is up 72%, Northern Data (NB2) is up 58%, #Core Scientific (CORZQ) is up 327%, and TerraWolf (WULF) is up 169%.
Meanwhile, Argo Blockchain (ARB) is down 84%, Sphere 3D (ANY) is down 69%, MARA Holdings (MARA) is down 12%, HIVE (HIVE) is down 29% and Greeridge (GREE) is down 74%, BitFarms (BITF) is down 44%, BitFU (FUFU) is down 18%, etc.
Overall, 2024 will be a year of adjustment for #bitcoin #mining companies as they focus on reducing fees, increasing costs, and finding new revenue streams to sustain their businesses. Since the inception of the network
miners have earned a total of more than $71 billion, but roughly every four years, an event occurs that halves the revenue from mining new blocks. Most recently, in April, the value of bitcoin plummeted and miners' rewards dropped from 6.25 #BTC to 3.125 BTC.
According to Blockchain. com, as of Dec. 22, miners earned $42 million, down from more than $100 million in April.
Meanwhile, the complexity of creating new blocks on the bitcoin blockchain has doubled since last year, adding pressure to the rising operating costs associated with bitcoin mining. The average difficulty level for bitcoin is now 108.52, up from 72.01 a year ago, reflecting a 50.71% increase over the past 12 months.
Increased operating costs have also driven up the cost of mining. For example, BitFuFu reported a 168 percent increase in bitcoin mining costs to $51,887 per BTC, as well as a 62.5 percent increase in mining capacity.

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