10x Research: Crypto mining stocks may rise further, but it is recommended to invest in the bullish trend of Bitcoin

According to a report by 10x Research titled "The Escalating Bitcoin Mining War - How to Participate?", Bitfarms is believed to be the primary beneficiary of the ongoing consolidation in the Bitcoin mining industry. While stocks of cryptocurrency mining companies like Bitfarms may continue to rise, it is more favorable to invest in the potential bullish trend of Bitcoin. Despite MicroStrategy's announcement of a proposed private placement of $500 million in convertible senior notes to purchase more Bitcoin, the market reaction has been relatively calm compared to the fourth quarter of 2023 and the first quarter of 2024, when these news led to a significant increase in retail speculation and funding rates.