Recently, 10x Research released a strategic report "Bitcoin Mining Wars Intensify - How to Participate?", pointing out that Bitfarms may be the main beneficiary of the consolidation of the Bitcoin mining industry. Although crypto mining stocks may rise further, 10x Research prefers to invest in Bitcoin's potential bullish trend.

On the other hand, although MicroStrategy announced that it intends to issue $500 million in convertible senior notes privately to purchase more Bitcoin, the market reaction was relatively calm. This is different from the fourth quarter of 2023 and the first quarter of 2024, when similar news led to a significant increase in retail speculation and an increase in funding rates.

The above information shows that the dynamics of the blockchain industry are changing in many ways. When making investment decisions, investors need to pay close attention to industry dynamics and rationally analyze market conditions.