BITF saw a large move up from September 9 until today, and we note that many other bitcoin miners (many are also now AI data center plays) also rose from that date. September 9 is also when NBIS reported its partnership with MSFT, and the stock rose dramatically. We think the BITF move is mostly tied to positive sentiment around data center plays, and while sales growth is decent, it still does not generate positive free cash flows, and we would like to see it continue its trend towards profitability. There is a high level of short interest around these bitcoin miner/AI names, and we think there is upside potential if bitcoin and AI data centers see positive momentum. We would be cautious around some of these names, but the momentum is good.
5i Research Answer: