Crypto Miners Log Double-digit Stock Price Gains After CPI Report

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A number of crypto stocks booked massive — and elusive of late — gains in Thursday’s trading session, with crypto miners Hive Blockchain and Marathon Digital among those that skyrocketed amid signs of slowing inflation and a subsequent boost for bitcoin. The share price gains across the sector followed Thursday’s US Consumer Price Index (CPI) report, which showed that core inflation rose 5.7% in December from a year earlier, marking another indicator of slowing or reversing inflation. November inflation’s metric had risen 6% year-over-year. In the hours after the report, crypto companies notched big stock price boosts. The pops in individual digital asset-related equities mirrored a rise in token prices, as bitcoin and ether were up 8% and 6.4% in the past 24 hours, respectively, through Thursday’s close in New York. (Blockworks)

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