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<ul><li>If you are a gamer and have been waiting for <keyword id="257940" type="General" weightage="20" keywordseo="gpu" source="Orion">GPU</keyword> prices to stabilize or decline, you are in for a rude shock.</li><li>The recent surge in <keyword id="2810876" type="General" weightage="20" keywordseo="ethereum" source="Orion">Ethereum</keyword> prices has led to a major increase in the prices of Nvidia GPUs.</li><li>To make matters worse, reports suggest that this could get worse as supply is expected to reduce by half in the coming weeks.</li></ul>After cooling down for a few weeks, <a href="https://www.businessinsider.in/tech/news/heres-why-gpu-prices-are-skyrocketing-in-india/articleshow/83304810.cms">GPU prices</a> are surging once again much to the annoyance of gamers. The recent breakout in Ethereum prices has led to an increase in GPU prices by nearly 20%, according to various trackers. A report by <a href="https://news.mydrivers.com/1/781/781064.htm">MyDrivers</a>, a Chinese news portal that tracks tech-related supply chain news, has revealed that Nvidia GPU (graphics processing unit) prices are up by 18% in China. The report states that the supply of Nvidia graphics cards will be “very tight” in September, with total units expected to be down by 50%. While GPU prices bottomed out around July, the new spike could be a result of a major breakout in Ethereum prices. In the last one week, <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial" data-type="tilCustomLink">Ethereum</a> has surged by over 23%, going from $3,172 (approx. ₹2,31,700) to $3,912 (approx. ₹2,85,700). Ethereum was trading around $2,000 in July, leading to a decline in GPU prices across the board, as cryptocurrency mining became less profitable. At $2,000 levels, Ethereum’s price had fallen by half from its previous highs of over $4,000. Unsurprisingly, with Ethereum back in the $4,000 range, GPU prices have picked up steam, too. And it’s not just Nvidia cards that have seen an increase in prices – the AMD RX 6000 series cards have witnessed a noticeable increase, too. This is at a time when the supply is still keeping up with the demand – according to a 3D Center report, supply has taken a minor hit despite the surge in demand. If and when the supply gets even more constrained, we could see a much more rapid increase in GPU prices. <cmsannotation type="cmsannotation" annotationid="These are the worst affected graphics cards" comment="subhead" text="These are the worst affected graphics cards">These are the worst affected graphics cards</cmsannotation> According to data compiled by MyDrivers, some of the worst affected graphics cards are Nvidia-based ones from Asus and Gigabyte. Note that these are prices in China. Asus <ul><li>RTX 3070 Ti: +600 Yuan (approx. $92 or ₹6,800)</li><li>RTX 3080, 3070: +400 Yuan (approx. $62 or ₹4,500)</li><li>RTX 3060 Ti, 3060: +350 Yuan (approx. $54 or ₹4,000)</li></ul>Gigabyte <ul><li>RTX 3090, 3080 Ti: +400 Yuan (approx. $62 or ₹4,500)</li><li>RTX 3070 Ti, 3070, 3060 Ti, 3060: +300 Yuan (approx. $46 or ₹3,400)</li></ul>For context, these are the current prices of some of these graphics cards in India: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">GPU </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Price </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">RTX 3080 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;"> ₹1,79,200 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">RTX 3080 Ti </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;"> ₹1,50,900 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">RTX 3070 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;"> ₹98,000 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">RTX 3070 Ti </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;"> ₹1,06,000 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">RTX 3060 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;"> ₹76,700 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">RTX 3060 Ti </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;"> ₹81,300 </td></tr></tbody></table> Source: Cost to Cost, Prime ABGB A <a href="https://www.3dcenter.org/news/hardware-und-nachrichten-links-des-2829-august-2021">3D Center</a> report notes that GPU prices are increasing in Europe as well. If the Ethereum rally continues and with supply issues expected to worsen in the coming weeks, you can expect GPU prices to increase even more from where they are now. <cmsannotation type="cmsannotation" annotationid="How are GPU prices linked to cryptocurrency prices?" comment="subhead" text="How are GPU prices linked to cryptocurrency prices?">How are GPU prices linked to cryptocurrency prices?</cmsannotation> Cryptocurrency mining requires a GPU or a dedicated application-specific integrated circuit (ASIC) to solve complex mathematical problems. Cryptocurrency mining can be an expensive proposition given the hardware it requires, and the power that is consumed in the process. If cryptocurrency prices increase, crypto mining becomes more profitable, thereby resulting in an increase in demand for GPUs. With <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial" data-type="tilCustomLink">Ethereum prices</a> nearly doubling over the last one week, it’s no surprise that GPU prices are increasing once again. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/heres-why-gpu-prices-are-skyrocketing-in-india/articleshow/83304810.cms">GPU prices are skyrocketing in India — this is how crypto miners and scalpers are making it worse</a> <a href="https://www.businessinsider.in/cryptocurrency/news/bitcoin-is-closing-in-on-key-resistance-level-that-could-signal-nearly-30-upside-ahead-according-to-a-technical-analyst/articleshow/85901921.cms">Bitcoin is closing in on key resistance level that could signal nearly 30% upside ahead, according to a technical analyst</a> <a href="https://www.businessinsider.in/cryptocurrency/news/vitalik-buterin-discussed-ethers-environmental-impact-how-dogecoin-could-become-more-like-ether-and-joked-with-elon-musk-in-a-recent-twitter-qa-here-are-the-10-best-quotes/articleshow/85894535.cms">Vitalik Buterin discussed ether's environmental impact, how dogecoin could become more like ether and joked with Elon Musk in a recent Twitter Q&amp;A. Here are the 10 best quotes</a>

Bad news for gamers – GPU prices are increasing once again, this time because of Ethereum

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back! Turns out the dogfighting and flying in the "Top Gun" movies is spot-on, <a target="_blank" rel="noopener" href="https://www.businessinsider.com/topgun-instructor-movies-flying-dogfighting-pretty-realistic-2024-3">according to an actual TOPGUN instructor</a>.In today's big story, the top habits of financially free people could serve as inspiration for what to do with your tax rebate.What's on deck:<ul><li>Markets: These market experts <a target="_blank" href="https://www.businessinsider.com/stock-market-outlook-bubble-crash-rosenberg-grantham-summers-recession-economy-2024-3">see a bubble forming</a> as valuations outpace earnings.</li><li>Tech: What to expect from <a target="_blank" rel="noopener" href="https://www.businessinsider.com/nvidia-jensen-huang-to-give-look-ai-future-2024-3">the "Woodstock of AI"</a> event hosted this week by Nvidia.</li><li>Business: How to post on LinkedIn and <a target="_blank" href="https://www.businessinsider.com/linkedin-cringe-how-to-post-new-job-hiring-resume-2024-3">not be ashamed of it</a>.</li></ul>But first, what to do with that money from Uncle Sam.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3>The big story</h3><h2>Tax time</h2><div type="image" title="A woman looking at a tablet or notebook." height="960" width="1920" msid="108596204" hostid="261" sizebytes="68198"></div>Spring has nearly sprung. The blooming flowers and warmer weather probably have you thinking of one thing: Filing your taxes.In reality, tax season can be a pain, but at least there's <a target="_blank" href="https://www.businessinsider.com/trying-irs-direct-file-new-free-tax-filing-tool-2024-3">new free software to do it</a>, thanks to the IRS.For many filers, there is a light at the end of the tunnel in the form of a rebate.(Of course, that's not the case for everyone. But as my grandfather used to say, better to owe the government money than ask for some of yours back. To be fair, he was not an accountant, so don't take that as financial advice.)If you do snag a rebate, what should you do with it? It's a question plenty of Americans contemplate every year. And with <a target="_blank" href="https://www.businessinsider.com/recession-outlook-economy-hard-landing-unemployment-job-market-outlook-growth-2024-3">so much turmoil in the economy currently</a>, it's even more pressing.<a target="_blank" href="https://www.businessinsider.com/author/kathleen-elkins">Business Insider's Kathleen Elkins</a> has interviewed dozens of <a target="_blank" href="https://www.businessinsider.com/how-to-build-wealth-lessons-entrepreneurs-millionaires-financial-independence-interviews-2023-11">financially independent people</a> who don't need to work thanks to passive income or their investments.To get inspiration on what to do with your rebate, I asked Kathleen about some of the themes she constantly hears from these financial wizards.<div type="image" title="A photo-illustration of a smiley face." height="1000" width="2000" msid="108596206" hostid="261" sizebytes="29504"></div>Pay off your high-interest debt first. The top priority often cited by the financially independent is tackling debt with high interest rates. The rationale is the longer you wait, the more it will snowball. And with no definitive timeline on <a target="_blank" href="https://www.businessinsider.com/economic-outlook-fed-rate-cuts-inflation-jobs-powell-central-bank-2024-3">when rates will be lowered</a>, that snowball could quickly become an avalanche.Establish an emergency fund. Saving up a safety net is something else those on the path to financial freedom look to do before they even consider investing. Kathleen told me the standard amount was typically three to six months of living expenses.Keep it simple. Investing doesn't have to be complicated, according to these experts. Many often <a target="_blank" href="https://www.businessinsider.com/index-fund-investing-achieve-financial-independence-retire-early-build-wealth-2022-8">opt for index funds over individual stocks</a> or, dare I say, crypto. They're also not worried about timing the market since they almost always take a long-term approach.The power of an HSA. Health savings accounts are a favorite among this group <a target="_blank" href="https://www.businessinsider.com/how-health-savings-account-works-triple-tax-benefit-investment-tool-2024-2">thanks to their triple tax advantage</a>: contribute pretax dollars that grow tax-free over time until you withdraw your money tax-free to cover qualified medical expenses. The case for HSAs was so compelling Kathleen <a target="_blank" href="https://www.businessinsider.com/wealth-building-strategy-rich-use-invest-hsa-max-out-plan-2024-3">even opened one up for herself</a>.Don't forget yourself. People looking to achieve financial freedom are known to cut costs wherever possible. But Nischa Shah, an accountant and former investment banker, preached the value of <a target="_blank" href="https://www.businessinsider.com/how-to-invest-first-thousand-dollars-salary-earned-increase-income-2024-3">spending money on yourself</a>. That could be building a new skill, attending a conference, or hiring a coach.<h3>News brief</h3><h2>Your Monday headline catchup</h2>A quick recap of the top news from over the weekend:<ul><li><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/russia-vladimir-putin-presidential-election-vote-landslide-win-2024-3">Why the scale of Putin's landslide win matters so much</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/ukraine-drones-strike-multiple-russian-oil-refineries-in-energy-war-2024-3">Ukraine drones attack multiple oil refineries in the campaign against Russia's strategic energy industry</a>.</li><li><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/donald-trump-couldnt-condemn-vladimir-putin-alexey-navalny-death-2024-3">Trump couldn't bring himself to condemn Putin for Alexey Navalny's death</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/sacramento-basic-income-pilot-ubi-cash-payments-housing-poverty-2024-3">Sacramento will soon give low-income Black and Native American families $725 a month, no strings attached</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/dell-remote-workers-promotion-return-office-push-flexible-work-2024-3">Dell workers can stay remote — but they're not going to get promoted</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/national-association-realtors-lawsuit-settlement-housing-market-homebuying-agents-commissions-2024-3">The end of the Realtor monopoly</a>.</li></ul><h2>3 things in markets</h2><div type="image" title="A woman blowing bubbles." height="1331" width="2000" msid="108596209" hostid="261" sizebytes="87056"></div><ol><li>Market gurus are getting worried about a bubble. Experts like former Treasury Secretary Larry Summers are worried about stocks' lofty valuations. With stocks outpacing earnings, <a target="_blank" href="https://www.businessinsider.com/stock-market-outlook-bubble-crash-rosenberg-grantham-summers-recession-economy-2024-3">these six market watchers detail how things could turn ugly</a>.</li><li>What part of the stock market will get the AI lift next? Nvidia, which makes AI-enabling GPU chips, was the initial benefactor of the AI boom. But Goldman Sachs sees <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-nvidia-ai-boom-spread-3-groups-stocks-2024-3">three more broad stages of the "AI trade</a>." That includes infrastructure players behind the tech and software and IT services with tools that will help companies utilize AI.</li><li>Bitcoin's looming halving feels like a big deal. The token's fourth halving, which is expected to take place in April, is <a target="_blank" href="https://www.businessinsider.com/bitcoin-halving-cryptocurrency-markets-investors-etf-spot-btc-supply-demand-2024-3">unlike others before it</a>, crypto market experts told BI. It's unlikely to be a "sell the news" event as the excitement surrounding spot ETFs continues to build, they said.</li></ol><h2>3 things in tech</h2><div type="image" title="Photo illustration of Jensen Huang." height="975" width="1300" msid="108596211" hostid="261" sizebytes="73368"></div><ol><li>All eyes are on Nvidia's Jensen Huang. The Nvidia CEO is set to host his GPU Technology Conference (GTC) this week. Nvidia employees are already referring to it as the "Woodstock of AI" and Huang is anticipated to <a target="_blank" rel="noopener" href="https://www.businessinsider.com/nvidia-jensen-huang-to-give-look-ai-future-2024-3">lift the lid on B100</a>, the next-generation version of H100 GPU — which will be a big deal if so.</li><li>AI's hottest new job. Demand for prompt engineer roles has skyrocketed amid the ChatGPT hype. That's probably because you don't need a formal tech background to do the work, and companies are offering salaries that echo the buzz. But <a target="_blank" rel="noopener" href="https://www.businessinsider.com/prompt-engineer-ai-careers-tech-fad-2024-3">some are warning that the job is merely a fad</a>.</li><li>Advance could win big from Reddit's upcoming IPO. The Condé Nast owner's stake in Reddit will be worth $1.7 billion if the social news company's listing this week pans out the way bankers are expecting. It's a rare case of a big media company investing in a digital property and <a target="_blank" href="http://www.businessinsider.com/reddit-ipo-advance-conde-nast-windfall-2024-3">not living to regret it</a>, BI's Peter Kafka writes.</li></ol><h2>3 things in business</h2><div type="image" title="A collage of photos from Michelin-star restaurant Quince." height="1000" width="2000" msid="108596213" hostid="261" sizebytes="435884"></div><ol><li>Quince vs. Quince. There's "Quince," the three-Michelin-starred restaurant founded in San Francisco in 2003, and then there's "Quince," the e-commerce startup known for affordable cashmere that launched in 2020. The restaurant is suing the startup, which now sells cookware, for encroaching on its territory. The startup says it's done nothing wrong. <a target="_blank" href="https://www.businessinsider.com/quince-restaurant-startup-trademark-infringement-lawsuit-tusk-2024-3">Which Quince will come out on top?</a></li><li>The shame of LinkedIn. As much as it is a professional platform, something about posting on LinkedIn feels really personal. But that's not a dunk on the platform. It's actually pretty helpful. You just have to get over the cringe part — <a target="_blank" href="https://www.businessinsider.com/linkedin-cringe-how-to-post-new-job-hiring-resume-2024-3">here's how</a>.</li><li>Some DINKs want kids — but can't afford them. In the current economic climate, more people are deciding that having children is too expensive. That's <a target="_blank" href="https://www.businessinsider.com/dinks-childfree-parents-choice-kids-childless-2024-3">the dark side of the "Dual Income, No Kids" lifestyle</a>, BI's Juliana Kaplan writes.</li></ol><h2>In other news</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/china-says-ban-tiktok-backfire-us-congress-2024-3">China says moves to ban TikTok will 'eventually backfire on US.'</a></li><li><a target="_blank" href="https://www.businessinsider.com/teacher-shortages-america-hurting-students-high-school-tiktok-gen-z-2024-3">I'm a junior in high school. Here's the real reason my generation is falling behind</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/target-rolls-out-new-in-house-ad-buying-program-roundel-media-studio-2024-3">Target is taking a chunk of its ad business in-house to compete with Amazon and Walmart</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/menlo-ventures-betting-big-ai-startups-infrastructure-layer-2024-3">Anthropic-backer Menlo Ventures is preparing for a 'gold rush' of infrastructure startups. Here's why</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/retirement-crisis-aging-longevity-evergreen-economy-2024-3">Solving the looming retirement crisis means thinking differently about aging, economist says</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/chatgpt-assessed-joe-biden-hur-transcript-says-president-sounds-fine-2024-3">We asked ChatGPT and Claude to analyze Biden's cognitive abilities based on the Joe Biden-Robert Hur transcript. Their verdict: the president is doing fine</a>.</li></ul><h2>What's happening today</h2><ul><li>Don Lemon will release his interview with Elon Musk.</li></ul>The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/george-glover">George Glover</a>, reporter, in London. <a target="_blank" href="https://www.businessinsider.com/author/grace-lett">Grace Lett</a>, associate editor, in Chicago.

It's tax season. Here's what to do if you get a rebate.

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Happy Valentine's Day! Don't worry about trying to grab a last-minute dinner reservation. Wow that special someone with <a target="_blank" href="https://www.businessinsider.com/fancy-date-night-slow-cooker-meals">an easy but delicious homemade meal.</a>In today's big story, we're looking at what a hotter-than-expected inflation report means for <a target="_blank" rel="noopener" href="https://markets.businessinsider.com/news/stocks/inflation-data-cpi-stock-market-federal-reserve-rate-cuts-outlook-2024-2">markets and the econom</a><a target="_blank" href="https://markets.businessinsider.com/news/stocks/inflation-data-cpi-stock-market-federal-reserve-rate-cuts-outlook-2024-2">y.</a>What's on deck:<ul><li>Markets: The stock market has been very kind to <a target="_blank" href="https://www.businessinsider.com/millennials-gen-z-stock-market-baby-boomers-wealth-investing-2024-2">millennials' portfolios in recent years</a>.</li><li>Tech: Target is cracking down <a target="_blank" href="https://www.businessinsider.com/target-self-checkout-closes-early-8-pm-some-stores-2024-2">on self-checkout lanes</a>.</li><li>Business: Instead of a housing bubble, maybe <a target="_blank" href="https://www.businessinsider.com/housing-market-bubble-home-prices-stay-high-crash-real-estate-2024-2">high home prices are just here to stay</a>.</li></ul>But first, guess what's back.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h2>The big story</h2><h3>Inflation issues</h3><div type="image" title="The stock market." height="1000" width="2000" msid="107698097" hostid="261" sizebytes="115196"></div>“Just when I thought I was out, <a target="_blank" href="https://www.youtube.com/watch?v=UPw-3e_pzqU">they pull me back in</a>.”Inflation reared its ugly head again with a <a target="_blank" href="https://www.businessinsider.com/inflation-cpi-consumer-price-index-january-housing-food-energy-prices-2024-2">hotter-than-expected report on Tuesday</a>. The consumer price index rose 3.1% year over year in January and was up 0.3% from the previous month, writes Business Insider’s Madison Hoff. Forecasters had been expecting increases of 2.9% and 0.2%, respectively. The market didn’t take kindly to the hot report. <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-hot-inflation-cpi-data-federal-reserve-2024-2">US stocks tumbled early Tuesday and never recovered</a>, with the S&amp;P 500 closing 1.37% lower and the Dow Jones Industrial Average dropping 1.35%. Some analysts were quick to <a target="_blank" href="https://markets.businessinsider.com/news/stocks/inflation-data-cpi-stock-market-federal-reserve-rate-cuts-outlook-2024-2">suggest investors are “overreacting,”</a> BI’s Aruni Soni reports. They pointed out that housing accounted for a big part of the January bump and flagged that there's still a larger narrative of inflation cooling.That silver lining doesn’t address the elephant in the room: What does the latest CPI data mean for interest rates?<div type="image" title="A graph showing consumer price index inflation." height="1092" width="1294" msid="107698100" hostid="261" sizebytes="43666"></div>The hot inflation report comes just a few weeks after some industry experts felt <a target="_blank" href="https://www.businessinsider.com/goldilocks-economy-interest-rate-cuts-federal-reserve-2024-2">the market was in a perfect position</a>.But hopes of a Goldilocks economy — where growth remains high while inflation and unemployment stay low — have dimmed. Instead, we’ve reentered the never-ending economic purgatory of: “Can the Fed pull off a soft landing?”Fed Chair <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-fed-chair-powell-march-rate-cuts-2024-2">Jerome Powell had already signaled</a> the central bank likely won't cut interest rates in March, but Tuesday's CPI flare-up could lead to it kicking the can even further down the road.Stubbornly elevated inflation means Powell might be less willing to cut rates and risk further fueling inflation. But keeping rates high, especially when so many expected relief early this year, is playing with fire. The US could fall into a recession this year if the needle isn’t perfectly threaded.Rates staying elevated for longer <a target="_blank" href="https://markets.businessinsider.com/news/stocks/federal-reserve-interest-rate-cuts-stock-market-outlook-investing-bofa-2024-2">doesn’t necessarily spell disaster for stocks</a>, according to Bank of America. Large-cap US companies with lots of cash on hand could earn significant interest.But not everyone is as lucky, as <a target="_blank" rel="noopener" href="https://www.businessinsider.com/corporate-borrowers-stress-despite-otherwise-strong-economy-cpi-rate-cuts-2024-2">corporate borrowers are “pockets of stress,”</a> according to Apollo Global Management co-president Jim Zelter.It’s particularly painful for smaller companies, which tend to carry floating-rate debt more susceptible to elevated interest rates.Maybe that’s <a target="_blank" href="https://www.businessinsider.com/us-economy-small-business-sentiment-labor-costs-inflation-recession-2024-2">why small business owners’ confidence levels are dropping</a>, with many citing inflation as their main concern, writes BI’s Yuheng Zhan.<h2>3 things in markets</h2><div type="image" title="Photo collage of an image of money (left), and a cell phone (right)." height="500" width="1000" msid="107698103" hostid="261" sizebytes="90074"></div><ol><li>It’s been a good five years for millennial investors. Americans aged 18 to 40 — mostly millennials — <a target="_blank" href="https://www.businessinsider.com/millennials-gen-z-stock-market-baby-boomers-wealth-investing-2024-2">enjoyed an 80% surge in their wealth</a> from early 2019 to late 2023. That was well above the net-worth growth for those over 40, per data from the Federal Reserve Bank of New York.</li><li>A reorg at BlackRock. The world’s largest money manager is <a target="_blank" href="https://www.businessinsider.com/blackrock-reorganizes-financial-strategic-investors-group-2024-2">shaking up its Financial and Strategic Investors Group</a>, which advises big clients like sovereign wealth funds, insurers, and central banks. It’s part of a bid to turn the group into "the most trusted advisor to financial institutions in our industry," according to an internal memo seen by BI.</li><li>It looks like Peter Thiel timed the crypto market perfectly. The billionaire’s Founders Fund <a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-ether-peter-thiel-founders-fund-crypto-investing-strategy-vc-2024-2">invested $200 million in bitcoin and ether</a> between late summer and early fall last year, Reuters reported. Since the end of June, bitcoin has jumped over 60% and ether is up more than 30%.</li></ol><h2>3 things in tech</h2><div type="image" title="Nvidia CEO Jensen Huang." height="1331" width="2000" msid="107698105" hostid="261" sizebytes="131400"></div><ol><li>Sam Altman’s $7 trillion chip dreams are off the mark, Nvidia’s CEO says. Jensen Huang questioned Altman's <a target="_blank" href="https://www.businessinsider.com/sam-altman-7-trillion-chip-dreams-off-mark-nvidia-ceo-2024-2">attempts to raise up to $7 trillion</a> to boost GPU chip supply. Building AI data centers won't cost anywhere near that much, he said at a summit in Dubai.</li><li>Some people are already returning their Apple Vision Pros. Customers said the headset's design, blurry screen, and lack of use cases <a target="_blank" href="https://www.businessinsider.com/apple-vision-pro-buyers-returning-headsets-design-blurry-screen-price-2024-2">don't justify its $3,500 price tag</a>. One big critic: <a target="_blank" rel="noopener" href="https://www.businessinsider.com/mark-zuckerberg-rips-apple-vision-pro-2024-2">Mark Zuckerberg</a>.</li><li>Jeff Bezos' move to Miami shows just how hard it is to tax the rich. Since leaving his longtime home of Washington, Bezos has started unloading billions of dollars worth of Amazon stock. And thanks to his new address, Bezos could <a target="_blank" href="https://www.businessinsider.com/jeff-bezos-miami-move-shows-challenges-taxing-rich-2024-2">save hundreds of millions of dollars in state taxes</a> this year.</li></ol><h2>3 things in business</h2><div type="image" title="An illustration of colorful homes rising incrementally, as if part of a bar graph." height="1000" width="2000" msid="107698108" hostid="261" sizebytes="130870"></div><ol><li>Sky-high home prices are here to stay. Since home prices began to climb in 2020, doomsayers have warned of a looming housing crisis. But barring a large-scale economic disaster, it doesn't look like <a target="_blank" rel="noopener" href="https://www.businessinsider.com/housing-market-bubble-home-prices-stay-high-crash-real-estate-2024-2">the bubble will pop anytime soon</a>.</li><li>Brace yourselves, self-checkout fans. Target is <a target="_blank" href="https://www.businessinsider.com/target-self-checkout-closes-early-8-pm-some-stores-2024-2">limiting the hours you can use its self-checkout lanes</a> in some stores. Employees told BI that staffing levels and sales volumes are key factors in the decision.</li><li>Government jobs are the ultimate anti-layoff “hack.” Recent waves of layoffs have made Gen Z disillusioned with corporate work. Some TikTokers <a target="_blank" href="https://www.businessinsider.com/gen-z-avoiding-layoffs-want-public-sector-goverment-jobs-2024-2">are now hyping up the public sector</a>, drawn to its solid benefits, early retirement, and student loan forgiveness plans.</li></ol><h2>In other news</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/phoenix-open-waste-management-golf-drunk-bros-party-2024-2">Nine hours at the most unhinged hole in golf</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/house-republicans-impeach-mayorkas-150-years-vote-2-2024">House Republicans have impeached the first Cabinet secretary in almost 150 years</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/democrat-tom-suozzi-wins-new-york-special-election-2024-2">Democrat Tom Suozzi wins New York special election, flips Santos' old seat</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/lyft-typo-projected-profit-10x-better-than-it-really-is-2024-2">Nightmare on Wall Street: A Lyft typo projected profit to be 10x better than it really is</a>.</li></ul><h2>What's happening today</h2><ul><li>Today's earnings: Cisco Systems, Sony, and other companies <a target="_blank" href="https://markets.businessinsider.com/earnings-calendar">are reporting</a>.</li><li>Mercedes-AMG and McLaren are set to launch their 2024 F1 cars.</li></ul>The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/george-glover">George Glover</a>, reporter, in London.

What the latest inflation data means for interest rates

<ul class="summary-list"><li>The AI boom has triggered a surge in spending on data centers.</li><li>These data centers require billions of dollars of investment and huge amounts of energy.</li></ul>It's less than a year since <a href="https://www.businessinsider.com/everything-you-need-to-know-about-chat-gpt-2023-1">ChatGPT</a> launched to the public, triggering a boom in artificial intelligence investments, and forever changing our comprehension of the technology.And while the rise of AI has already changed our digital realities, it's also beginning to impact our physical world, too. The <a href="https://www.businessinsider.com/ai-boom-share-profits-workers-productivity-wages-2023-5" rel="">AI boom</a> has supercharged a wave of spending on data centers. This building boom is sucking up billions of dollars, along with water, land, and energy. "There's a well-publicized arms race happening in AI, and the major tech companies are expected to invest $1 trillion over the next five years in this area, mostly to data centers," Jonathan Gray, Blackstone's president and chief operating officer, said on an earnings call on July 20. The data center boom is set to double or triple the amount of energy consumed by these data centers.By 2030, data centers are expected to reach 35 gigawatts of power consumption annually, up from 17 gigawatts last year, according to <a href="https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/investing-in-the-rising-data-center-economy" target="_blank" rel="noopener nofollow">McKinsey</a>. A recent Cowen research report estimated that AI data centers could require more than five times the power of traditional facilities."It's staggering," said Marc Ganzi, CEO of DigitalBridge, an investment firm that owns and operates data centers, fiber networks, and other tech infrastructure. "Not sure how we do it." Insider has been covering the data center boom at length. Here, we break down what's going on:<h2>AI is supercharging the data center boom</h2><a href="https://www.businessinsider.com/ai-data-centers-energy-cloud-microsoft-chatpgt-amazon-google-2023-7"></a><div type="image" title="AI data center" height="738" width="1280" msid="104406983" hostid="261" sizebytes="37366"></div>AI model training is especially energy intensive. It requires the use of graphic processing units. These <a href="https://www.businessinsider.com/nvidia-gpu-venture-capitalists-buying-for-startups-2023-6" rel="">GPUs</a> are specialized chips that multitask better and work faster than central processing units, or CPUs, which run most traditional cloud services. AI computer servers being installed in data centers are often equipped with multiple GPUs, usually supplied by <a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-ai-race-artificial-intelligence-wall-street-gpu-huang-2023-5" rel="">Nvidia</a>. Each GPU consumes up to about 400 watts of power, so one AI server can consume 2 kilowatts. A regular cloud server uses 300 to 500 watts, according to <a href="https://intra.ece.ucr.edu/~sren/" target="_blank" rel="noopener">Shaolei Ren</a>, a researcher at UC Riverside who has studied how modern AI models use resources.For instance, the power consumption of Nvidia's new GH200 server cluster is about two to four times more than a regular cluster of the same physical size, he estimated. Tom Keane, who oversaw Microsoft's cloud data centers for about two decades, recently warned about this. Microsoft is the main backer of <a href="https://www.businessinsider.com/openai-gpt4-ai-model-got-lazier-dumber-chatgpt-2023-7" rel="">OpenAI</a>, creator of ChatGPT and builder of the most powerful AI models around."In the case of a training data center, you make that as big as possible, you put as many computers in there as possible and you're running that data center at full utilization all of the time," Keane told Bernstein analyst Mark Moerdler in a recent interview. "That physical data center starts to become more resource intensive. You start to design that AI data center very differently." <a href="https://www.businessinsider.com/ai-data-centers-energy-cloud-microsoft-chatpgt-amazon-google-2023-7">Why generative AI will have a huge impact on data centers.</a><h2>Rural America has become a hotbed</h2><a href="https://www.businessinsider.com/data-centers-ai-artificial-intelligence-farmland-power-2023-7"></a><div type="image" title="data center farmland neighborhood amazon" height="683" width="1024" msid="104406984" hostid="261" sizebytes="113540"></div>On a rolling expanse of rural Ohio land, America's digital future is being sown. Last year, a partnership between the real estate investors Lincoln Property Company and Harrison Street <a href="https://www.prnewswire.com/news-releases/lincoln-property-company-and-harrison-street-acquire-190-acre-data-center-and-industrial-campus-near-columbus-ohio-301550724.html" target="_blank" rel="noopener nofollow">purchased 190 acres in New Albany</a>, a small city about 20 miles outside of Columbus where the pair plan to begin construction on a 200-megawatt data center by the end of the year. The project's neighbors include Google, Meta, Microsoft, and Amazon – all of whom have similar plans, or are already underway with major data center projects. "Our regional message is if you're a major data center developer or customer, we want to talk to you," said Matt McCollister, an executive vice president at One Columbus, a business development group in the region.The data center industry has long been clustered in a handful of well-established markets, primarily Northern Virginia, Dallas, Phoenix, Silicon Valley, and Chicago. But the emergence of places like New Albany shows how soaring demand and the sector's voracious appetite for energy is increasingly pushing data center developers and users throughout the country. Artificial intelligence, which requires massive computing power and energy loads, is expected to further this migration – especially as utilities in the industry's core markets have struggled to keep pace with its growth. <a href="https://www.businessinsider.com/data-centers-ai-artificial-intelligence-farmland-power-2023-7">Rural America is the new hotbed in the AI race as tech giants spend billions to turn farms into data centers</a><h2>Wall Street is betting big</h2><a href="https://www.businessinsider.com/blackstone-data-center-real-estate-investments-breit-2023-8"></a><div type="image" title="A portrait of the president of Blackstone, Jonathan Gray, is set before a background of a teal circuit board overplayed over an image of a data center" height="1800" width="2400" msid="104406985" hostid="261" sizebytes="493476"></div>To help it reach $1 trillion in assets, Blackstone has wagered big sums on apartment buildings, warehouses, student housing, and other commercial real estate assets that proved to be shrewd investments. Now, as borrowing costs rise, property values sink, and a once-soaring real estate market has become perilous, the investment giant is turning to ChatGPT for answers — literally.Blackstone has been talking up data centers with expectations that the industry will benefit from a boom in artificial intelligence and become a key new area of focus in its $585 billion real estate portfolio.Two years ago Blackstone funds, including its largest single real estate fund, Blackstone Real Estate Income Trust, known as BREIT, took the data center landlord and developer QTS Realty Trust private in a $10 billion deal that has made QTS the centerpiece of its data center ambitions.Blackstone executives have said QTS's value has since tripled and that they plan to radically scale it beyond that with $8.5 billion of new data center projects due in the next three years and a $50 billion pipeline of longer-term development.<a href="https://www.businessinsider.com/blackstone-data-center-real-estate-investments-breit-2023-8">Inside Blackstone's data center gamble</a><h2>These complexes are hoovering up huge amounts of energy</h2><div type="image" title="Amazon Virginia HQ renderings" height="956" width="1920" msid="104406986" hostid="261" sizebytes="306942"></div>Just a few miles from the $5 billion second headquarters that Amazon is raising outside of Washington, DC, the tech giant is in the midst of a far larger, and less conspicuous, building boom. The company is in the process of developing $87 billion worth of data centers, a push that has already made it the biggest player in the world's largest data center market in northern Virginia. The featureless, warehouse-like structures are easy to miss on the sides of highways or tucked unassumingly amid suburban neighborhoods. Data centers, including Amazon's, play an increasingly central, but unseen role in modern life, housing the digital infrastructure that powers critical functions such as e-commerce, autonomous vehicles, video streaming, and, now, artificial intelligence. There is a flipside, however, to their now ubiquitous presence in places like northern Virginia. The facilities consume quantities of power so vast that they have begun to tax entire energy grids and could exacerbate the climate crisis. Amazon does not disclose how many data centers it occupies, where they are located, or how much electricity they consume. The company's data facilities are tied to its large cloud computing business, Amazon Web Services, which offers software, storage, and other services to legions of customers. Based on a review of permits that Insider obtained through a Freedom of Information Act request, Amazon operates, or is in the process of building or planning, 102 data centers in northern Virginia. Together, the facilities, when they are all up and running, will have emergency generators capable of producing more than 4.6 gigawatts of power. That's almost enough backup electrical capacity to <a href="https://climate.cityofnewyork.us/subtopics/systems/#:~:text=On%20average%2C%20NYC%20uses%20about,as%20much%20as%2010%2C000%20megawatts." target="_blank" rel="noopener nofollow">light up all of New York City</a> on an average day. <a href="https://www.businessinsider.com/amazon-data-centers-energy-grid-electricity-virginia-2023-8">Amazon built a data center empire in northern Virginia. Exclusive filings reveal it's using as much energy as a major city.</a><h2>That's forcing some utilities to delay their shift away from fossil fuels</h2><div type="image" title="A hill of coal at the North Omaha Station, a coal-burning power station, in Omaha, Nebraska, in 2014.." height="3268" width="4596" msid="104406987" hostid="261" sizebytes="992588"></div>In Phoenix and the surrounding region, data centers have attracted attention for the <a href="https://www.chandleraz.gov/news-center/chandlers-data-center-ordinance-now-effect#:~:text=Over%20the%20years%2C%20Chandler%20has,5." target="_blank" rel="noopener">noise</a> they blare, the <a href="https://www.businessinsider.com/arizona-running-out-of-water-data-centers-blame-microsoft-google-2023-6" rel="">water</a> they guzzle, and the large tracts of <a href="https://www.themesatribune.com/news/mesa-looks-to-tap-the-brakes-on-data-centers/article_34673e28-4e97-11ee-a972-dfdf0dfd5039.html" target="_blank" rel="noopener nofollow">land</a> they've consumed. Now, the prodigious power burned by this fast-growing industry threatens to overwhelm the city's utilities and stymie efforts to remove fossil fuels from the grid even as the climate crisis has flashed increasingly dire signals. This year, the daily high temperature in Phoenix reached or surpassed 110 degrees Fahrenheit for a record 54 days. "We have about 7,000 megawatts of data center requests currently in our pipeline," Karla Moran, an executive at Salt River Project, one of two major utilities that serve the Phoenix region, told Insider. Moran noted those requests rivaled the size of the utility's entire 11,000 megawatt system.While all of those power requests are not expected to materialize into actual development, she said the size of the interest was unprecedented. The data center industry's soaring electrical demand has been so significant, it factored into the utility's far-reaching plans, Moran said.In October, the power company, better known as SRP, approved a significant expansion of its generating capabilities that includes the development of 2,000 megawatts of new methane gas facilities. Those plants will effectively preserve the size of its portfolio of fossil-fuel-fired infrastructure into the next decade and potentially beyond.Moran said data centers, with their heavy, around-the-clock power use, were "one of the main reasons we look at having a resource like that."<a href="https://www.businessinsider.com/data-centers-energy-demand-utilities-green-renewable-2023-10">Data centers are booming. Their need for power is causing utilities to retreat on green energy.</a>

Data centers are sprouting up as a result of the AI boom, minting fortunes, sucking up energy, and changing rural America

<ul class="summary-list"><li>Hobbyist <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> miners are having to get creative to survive a brutal sell-off.</li><li>Electricity costs are also rising across the US, further squeezing these individuals.</li></ul>This brutal crypto winter has already claimed <a href="https://markets.businessinsider.com/news/currencies/bitcoin-backed-loans-crypto-crash-liquidity-crisis-bankruptcy-collapse-3ac-2022-7">billion-dollar companies as victims</a> — but it's also making life much tougher for fans who mine <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> from their spare room or garage.These hobbyists, who would typically <a href="https://www.businessinsider.com/how-to-mine-bitcoin-with-gpu-tiny-apartment-2022-4">use GPU rigs to pull in hundreds of dollars</a> worth of cryptocurrency a month, have seen<a href="https://markets.businessinsider.com/news/currencies/bitcoin-mining-crypto-crash-energy-price-outlook-ethereum-riot-marathon-2022-6"> their profits plummet and their costs surge</a> in a hellish 2022.<a href="https://www.youtube.com/channel/UC-NPtKoCsPRiuwUlBuTr-5g">Chris Vega</a> and<a href="https://www.youtube.com/channel/UCVVWXoQfMfQVuzxcLylq9aA"> Michael Carter</a>, who between them have two decades of experience mining <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> and advising others, told Insider how the US community is coping."It's easier for at-home miners to be innovative than large companies, because they have lower overheads," Carter said in a recent interview."Hobbyists are the ones that are innovating and trying new techniques to cut their costs."Bitcoin has plunged more than 70% from its November all-time high, while prices for electricity — a big input cost for power-hungry mining — <a href="https://www.businessinsider.com/energy-prices-european-factories-shutting-down-russian-gas-supplies-2022-6?utm_medium=ingest&amp;utm_source=markets&amp;r=US&amp;IR=T">are soaring worldwide</a> due to the energy crisis.Individual miners can't hope to control the price of bitcoin. But they can get creative to manage their utility bills.Some at-home US miners are relocating to take advantage of lower energy prices, according to Vega and Carter. Electricity costs are set to rise another 5% in the US this summer, according to <a href="https://www.eia.gov/outlooks/steo/report/prices.php">government figures</a>. But that masks a massive variation between states, with the US <a href="https://www.uschamber.com/energy/energy-and-inflation-5-things-you-need-to-know-now">Chamber of Commerce</a> forecasting a 16.4% rise in New England but only a 2.4% bump in the South-West."Lots of Americans are moving to a different state because electricity is cheaper there," Carter said. "When there's a bear market, you tend to see a lot of migration by bitcoin miners."Some crypto miners are even considering switching to renewable power sources to cut their electricity costs, the two said.Florida-based Vega said he'd heard of miners pivoting to solar power, while Carter said some in the Midwest were moving to states like Illinois or Missouri to take advantage of wind power there."There are a lot of incentives to use renewable energy here in the US," Carter said. "If you're putting up large solar panels, you can get half of it paid off by the government, which can really help miners to cut their costs."As well as providing free advice on YouTube, Carter — who runs a larger mining operation out of St Louis, Missouri — consults with larger Midwestern mining firms about how to optimize their setup.In the at-home mining world, though, some are selling old equipment to raise capital. On second-hand sites like<a href="https://affiliate.insider.com?u=https%3A%2F%2Fwww.ebay.com%2Fb%2FMining-Rig%2F179171%2Fbn_7023278900"> eBay</a>, would-be crypto miners can pick up rigs for as little as $300.Longtime hobbyists would likely find selling their equipment a painful prospect, Vega and Carter said, but those who first bought rigs in last year's run-up to market highs could be looking for a quick way out of crypto."Many people in the mining space don't want to sell their hardware," tech fanatic Vega told Insider. "Sellers tend to be newcomers that entered the space when bitcoin was at its all-time high, and bought a lot of hardware at ridiculously high prices."Vega started mining crypto as a teenager attending LAN parties. He told Insider his first foray involved him and his friends "getting a bunch of laptops and piggybacking off grandma's Wi-Fi."Both he and Carter are well positioned to see the community's suffering right now. But both expect hobbyists to survive the current crypto downturn if they can cut their costs."The mining scene is full of individuals who bring a unique flair to the industry," Vega said. "I think — and hope — that the grassroot individual will continue to prevail."Read more: <a href="https://www.businessinsider.com/how-to-mine-bitcoin-ether-doge-crypto-earnings-costs-rigs-setup-advice?r=US&amp;IR=T">How to mine cryptos including bitcoin and ether: Your complete guide to the technical setups, profits, and risks involved</a>

At-home bitcoin miners are getting crushed by the crypto sell-off and energy inflation. Here's how they're cutting costs.

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Getty Images/Pool</div></div></div>Stocks finished up on Friday after the Federal Government <a href="http://www.businessinsider.com/government-shutdown-house-vote-trump-2017-12">narrowly avoided a complete shutdown with a two-week stopgap measure</a> signed by President Donald Trump this morning.Here's the scoreboard:<ul><li>S&amp;P 500: 2,650.05 (0.50%)</li><li>Dow: 24,319.10 (+0.44%)</li><li>Nasdaq: 6,837.262(+0.37%)</li><li>Oil: $57.33 (+1.18%)</li><li>10-year treasury: 2.36% (-0.02)</li></ul><ol><li>The US economy <a href="http://www.businessinsider.com/us-jobs-report-november-2017-12">added 228,000 nonfarm jobs in November, more than economists expected</a>. The unemployment rate held at a 17-year-low of 4.1%.</li><li>CNBC <a href="http://www.businessinsider.com/gary-cohn-bitcoin-trump-gop-tax-reform-bill-2017-12">asked National Economic Council director Gary Cohn for his opinion on bitcoin's astronomical rise.</a> His response? ¯\_(ツ)_/¯</li><li>Bank of America <a href="http://www.businessinsider.com/moneygame">says the dollar is set for a big rebound</a> after a difficult year.</li><li>Brokerage giant TD Ameritrade is <a href="http://www.businessinsider.com/online-brokerage-giant-td-ameritrade-is-gearing-up-for-bitcoin-futures-2017-12">gearing up for bitcoin futures</a>. Goldman Sachs <a href="http://www.businessinsider.com/bitcoin-cryptocurrency-futures-goldman-2017-12">plans to clear the product for some of its clients</a>. </li></ol>In other news…<ul><li>The next stock market crash <a href="http://www.businessinsider.com/stock-market-news-next-bear-market-will-look-different-than-financial-crisis-2017-12">will look a lot different from the financial crisis</a>. </li><li>Coinbase, an app for buying and selling bitcoin <a href="http://www.businessinsider.com/coinbase-bitcoin-app-apple-app-store-2017-12">has rocketed to the top of iPhone App Store charts</a>, but the company <a href="http://www.businessinsider.com/coinbase-bitcoin-app-apple-app-store-2017-12">warned its platform could crash again in the future</a>. </li><li><a href="http://www.businessinsider.com/bitcoin-shorting-about-to-get-more-expensive-2017-12">It's about to get a lot more expensive to bet on bitcoin</a>. </li><li>Nvidia stock <a href="http://markets.businessinsider.com/news/stocks/nvidia-stock-titan-v-volta-rising-after-announcing-the-most-powerful-gpu-for-the-pc-2017-12-1010602582">had a great day after announcing the 'most powerful GPU for the PC.'</a></li></ul>Get the latest Bitcoin price<a href="http://markets.businessinsider.com/currencies/BTC-USD"> here.&gt;&gt;</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/best-places-in-the-world-to-invest-2017-11">The best places in the world to invest</a></h3> <div> </div> </div>

STOCKS RISE: Here's what you need to know

Stoyan Nenov/ReutersThe Nasdaq took a nosedive in the mid-afternoon after hitting a new record high earlier in the day.The tech-heavy index fell by as much as 2.8% just before 3 p.m. ET before retracing some of its losses minutes later.Earlier in the day, Goldman Sachs came up with a new acronym for the big-player stocks in the tech space -"<a href="http://www.businessinsider.com/faamg-tech-stocks-market-goldman-2017-6">FAAMG</a>" - encompassing Facebook, Amazon, Apple, Microsoft, and Alphabet. Shares of all five got slammed on Friday, with each falling about 4-5% around 3 p.m. ET.First up, the scoreboard:<ul><li>Dow: 21,244.23, +61.70, (+0.29%)</li><li>S&amp;P 500: 2,430.43, -3.86, (-0.12%)</li><li>Nasdaq: 6,200.90, -121.89, (-1.94%)</li><li>US 10-year yield: 2.209%, +0.015</li><li>WTI Crude: $45.88, +0.24, +0.53%</li></ul>1. <a href="http://www.businessinsider.com/faamg-tech-stocks-market-goldman-2017-6">Goldman came up with a new acronym for the most powerful drives of the S&amp;P 500 and Nasdaq</a>. "While FANG has dominated investor focus, the nature of the acronym has expanded more broadly to encompass mega-cap tech," Robert Boroujerdi and his colleagues wrote in a note on Friday. "Indeed, the bigger story in our view is FAAMG - Facebook, Amazon, Apple, Microsoft and Alphabet - a group of five stocks which have been the key drivers of both the SPX &amp; NDX returns year-to date."2. <a href="http://www.businessinsider.com/tech-stocks-are-getting-slammed-2017-6">And then tech stocks got slammed</a>. Nasdaq touched a record high of 6,341 after the opening bell. But then around 3 p.m. ET, Facebook was down by 4%, <a href="http://markets.businessinsider.com/news/stocks/apple-stock-price-falling-new-iphone-speed-2017-6-1002082799">Apple</a> was down by 4.9%, Microsoft was down by 3.7%, and Alphabet was down by 3.9%. And Nvidia <a href="http://markets.businessinsider.com/news/stocks/nvidia-stock-price-has-become-casino-2017-6-1002082410">tumbled</a> about 9% after Citron Research called the GPU manufacturer a "casino stock."3. <a href="http://www.businessinsider.com/amazon-stock-flash-crash-2017-6">Amazon dropped sharply and suddenly - and then quickly recovered</a>. The stock oscillated by about $35 per share over the course of 3 seconds. Commentators have speculated that the flash crash was either a so-called "fat finger" trade or an automated trade.4. <a href="http://www.businessinsider.com/canada-jobs-report-june-9-2017-2017-6">Canada's jobs report crushed it</a>. The economy added 54,500 jobs in May, according to the latest data from Statistics Canada. Notably, full-time employment surged by 77,000 last month, and jobs men ages 25 to 54 rose by 25,000.5. <a href="http://www.businessinsider.com/oil-rig-count-baker-hughes-june-9-2017-6">The US oil-rig count jumped for the 21st week in a row</a> - the longest streak in at least three decades. The oil-rig count rose by eight to 741, the highest level since April 10, 2015, data from Baker Hughes showed. The number of gas rigs rose by three to 185. With miscellaneous rigs unchanged at one, the total rig count rose by 11 to 927.6. <a href="http://www.businessinsider.com/claire-mccaskill-senate-gop-healthcare-bill-secrecy-attack-2017-6">"We have no idea what's being proposed": Democratic senator gives impassioned speech on GOP healthcare bill secrecy</a>. Sen. Claire McCaskill, a Democratic senator on the Senate Finance Committee, railed against what she viewed as a secretive process around the healthcare legislation as Republican leaders move toward a vote before the July 4 recess.7. <a href="http://www.businessinsider.com/tesla-shares-400-before-july-4-2017-6">Tesla is hurtling towards $400 per share</a>. <a href="http://markets.businessinsider.com/stock/TSLA-Quote">Tesla</a> has gone from trading at about $250 per share last year to, as of Friday, trading at $375. The 13-year-old company is up 22% over the past 30 days alone. Since its 2010 IPO, it's up almost 1,300%ADDITIONALLY:<a href="http://www.businessinsider.com/canada-housing-appears-to-be-on-verge-of-downturn-2017-6">Canada's housing market appears to be "teetering on the brink of a downturn."</a><a href="http://www.businessinsider.com/credit-card-defaults-have-spiked-as-lending-standards-fall-2017-6">Americans are suddenly defaulting on their credit cards</a>.<a href="http://www.businessinsider.com/jpmorgan-2017-summer-reading-list-2017-6">JPMorgan says everyone should read these 11 books this summer</a>.<a href="http://markets.businessinsider.com/news/stocks/apple-stock-price-big-bet-on-healthcare-2017-6-1002082798">Apple is making moves to take over the digital healthcare industry</a>.<a href="http://www.businessinsider.com/patty-jenkins-wonder-woman-sequel-negotiations-2017-6">Warner Bros. was surprised by the success of "Wonder Woman" - and it'll have to pay for it</a>.<a href="http://www.businessinsider.com/fda-asked-drugmaker-to-take-opioid-off-the-market-opana-opioid-crisis-2017-6">The FDA is getting a lot more aggressive about fighting the opioid crisis</a>.<a href="http://www.businessinsider.com/uk-election-comey-testimony-uk-election-qatar-saudi-bond-inflows-2017-6">BAML: The crazy week of political news is triggering "monster" moves in markets</a>. <h3>NOW WATCH: <a href="http://www.businessinsider.com/ian-bremmer-on-the-biggest-takeaways-from-trumps-first-foreign-trip-2017-5">'Melania needs to get with the program': Ian Bremmer explains the biggest takeaways from Trump's first foreign trip</a></h3> Please enable Javascript to watch this video

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