{"id":17964,"date":"2023-02-22T18:58:00","date_gmt":"2023-02-22T18:58:00","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/are-btc-mining-stocks-still-a-good-bet-after-inflation-ticked-up\/"},"modified":"2023-02-22T18:58:00","modified_gmt":"2023-02-22T18:58:00","slug":"are-btc-mining-stocks-still-a-good-bet-after-inflation-ticked-up","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/are-btc-mining-stocks-still-a-good-bet-after-inflation-ticked-up\/","title":{"rendered":"Are BTC mining stocks still a good bet after inflation ticked up?"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/jievani-weerasinghe-NHRM1u4GD_A-unsplash-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/jievani-weerasinghe-NHRM1u4GD_A-unsplash-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/jievani-weerasinghe-NHRM1u4GD_A-unsplash-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/jievani-weerasinghe-NHRM1u4GD_A-unsplash-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>U.S. consumer prices were up a more than expected 6.4% in January.<\/li>\n<li>Bitcoin mining stocks still gained near 20% in the week ended Feb 19th.<\/li>\n<li>Mike Colonnese reiterated his bullish view on BTC miners today.<\/li>\n<\/ul>\n<p>Last week, the U.S. Bureau of Labour Statistics said <a href=\"https:\/\/www.investopedia.com\/consumer-prices-rose-more-than-expected-in-january-2023-7109395\" target=\"_blank\" rel=\"noopener\">consumer prices<\/a> were up a more than expected 6.4% in January. Still, H.C. Wainwright &amp; Co analyst Mike Colonnese remains bullish on bitcoin miners.<\/p>\n<h2>Mining stocks gained near 20% last week<\/h2>\n<p>Colonnese quoted the price action for the week that ended on February 19<sup>th<\/sup> to defend his view in a recent note.<\/p>\n<p>Despite inflation keeping well above the Fed\u2019s 2.0% target, BTC gained about 12% in the said week prompting an even bigger near 20% increase in mining stocks.<\/p>\n<p>That\u2019s particularly encouraging when compared to the benchmark S&amp;P 500 index that actually lost 0.3% in the week ended February 19<sup>th<\/sup>. Colonnese also said in his research note:<\/p>\n<blockquote>\n<p>BTC prices also responded positively to news on 2\/15 of the SEC\u2019s proposal to expand existing qualified custodian rules for client assets held with investment advisers to crypto assets.<\/p>\n<\/blockquote>\n<h2>Hashprices touched a four-month high<\/h2>\n<p>A 9.1% week-over-week increase in the network hash rate to 319 EH\/s also fed into his constructive view on BTC miners. Continued upside in bitcoin prices pushed hashprices up to $0.08\/TH in the said week \u2013 a more than 12% increase.<\/p>\n<p>The aforementioned <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2023-30\" target=\"_blank\" rel=\"noopener\">SEC proposal<\/a> aims to protect investors against a qualified custodian bankruptcy. To that end, Colonnese wrote:<\/p>\n<blockquote>\n<p>We view the proposal as a net positive, so long as new requirements for qualified crypto custodians are not onerous, as proposed changes could increase investor protections, and instill greater confidence in crypto ecosystem.<\/p>\n<\/blockquote>\n<p>Of the six bitcoin mining stocks he covers, Colonnese currently has a \u201cbuy\u201d rating on five.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/btc-mining-stocks-good-bet-inflation-up\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) U.S. consumer prices were up a more than expected 6.4% in January. Bitcoin mining stocks still gained near 20% in the week ended Feb 19th. Mike Colonnese reiterated his bullish view on BTC miners today. Last week, the U.S. Bureau of Labour Statistics [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":17965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17964"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=17964"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/17965"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=17964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=17964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=17964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}