10x Research: Cryptocurrency mining company stock prices may rise further, but it is recommended to invest under a bullish trend for Bitcoin

ChainCatcher news, 10x Research stated in its strategic report "The Bitcoin Mining War Intensifies------How to Participate?" that it believes Bitfarms is a major beneficiary of the ongoing consolidation in the Bitcoin mining industry. While cryptocurrency mining stocks (such as Bitfarms) may rise further, there is a greater inclination to invest under the potential bullish trend of Bitcoin. Although MicroStrategy announced plans to privately issue $500 million in convertible senior notes to purchase more Bitcoin, the market reaction has been relatively calm, unlike in the fourth quarter of 2023 and the first quarter of 2024, when such news led to a noticeable increase in retail speculation and rising funding rates.