10x Research: Cryptocurrency mining company stock prices may continue to rise, but it is recommended to invest under the bullish trend of Bitcoin

In its strategic report "The Intensifying Battle of Bitcoin Mining - How to Participate?", 10x Research stated that it believes Bitfarms is a major beneficiary of the ongoing consolidation in the bitcoin mining industry. Although cryptocurrency mining stocks (such as Bitfarms) may rise further, they prefer to invest under the potential bullish trend of Bitcoin. Despite MicroStrategy's announcement of plans to issue $500 million in private convertible preferred notes to purchase more bitcoins, market reactions have been relatively calm, unlike Q4 2023 and Q1 2024 when such news led to a significant increase in retail speculation and rising funding rates.