Argo Blockchain Ranks Among Fidelity’s 5 Most Actively-Traded Stocks

0

[ad_1]

Key Takeaways

Argo Blockchain was the third most actively-traded stock by Fidelity customers in 2021.
The crypto mining firm has recorded higher trading volumes than either BP and or Lloyds Banking Group, despite being a much younger and smaller company.
Argo is currently trading at a $450 million valuation.

Share this article

Fidelity Investments, one of the largest asset management firms in the world, revealed today that Argo Blockchain has been the third most actively-traded stock by the firm’s customers in 2021.

Increased Appetite for Crypto Mining Stocks

Argo Blockchain, the first cryptocurrency mining company to list on the London Stock Exchange, has ranked as the third most actively-traded stock by Fidelity customers over the last twelve months.

Today, Fidelity Investments shared a list of its customers’ most actively-traded stocks over the last year. Ranked in descending order by trading volume, the list includes aircraft engine manufacturer Rolls-Royce, British Airways owner International Consolidated Airlines, crypto mining company Argo Blockchain, oil giant BP, and the Lloyds Banking Group.

Argo Blockchain was the first cryptocurrency mining company to be listed on the London Stock Exchange. According to data shared on its website, the firm’s facilities, based in North America, expend 45 megawatts of electricity to generate over 1.6 EH/S of Bitcoin and 280 Megasols of ZCash in mining power. This puts Argo’s capacity in the top-tier of global mining operations, accounting for around 0.6% and 5% of the total worldwide mining capacity for Bitcoin and ZCash, respectively.

The company has a current market capitalization of around $450 million with its stock trading at approximately £97 per share, down significantly from its all-time high price of £282 in February. Interestingly, despite being a significantly younger and smaller company than either BP or the Lloyds Banking Group, Argo’s stock recorded more trading volume among Fidelity customers for the last year.

In November, Argo announced the construction of a $2 billion crypto mining facility in Texas. Following a ban on cryptocurrency mining in China, the U.S. has emerged as the new global leader in crypto mining, accounting for roughly 35.4% of the worldwide Bitcoin hashrate as of August. Several U.S. states, including Texas, Kentucky, and Wyoming, have been especially welcoming to cryptocurrency miners, offering lower electricity rates to attract and retain them.

Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Crypto Mining Firm Argo Blockchain Heads to Nasdaq

Argo Blockchain’s IPO could raise over $145 million.  Argo Blockchain Goes Live on Nasdaq  Argo Blockchain has launched an Initial Public Offering, the firm announced today.  New RNS: Argo is…

Argo Estimates $2B Cost for Texas Crypto Mining Facility

Argo Blockchain has revealed that it may spend up to $2 billion in the construction of a crypto mining facility, called Helios, in the U.S. State of Texas. The information…

U.S. Now Top Bitcoin Mining Hub After China Ban

Data from Cambridge Centre for Alternative Finance (CCAF) indicates that China’s contribution to Bitcoin’s global mining hashrate has completely declined. U.S. Becomes World Leader for Bitcoin Mining  New research data…

Audience Survey Win A $360 Subscription To Pro BTC Trader

Answer the questions below and share your email for a chance to win. Every month, 5 people will receive a $360 1-year subscription to Pro BTC Trader. Free. We’re doing…

Celsius Will Invest $300M in Bitcoin Mining

Cryptocurrency lender Celsius Network has invested additional funding into Bitcoin mining, according to statements from CEO Alex Mashinsky. Celsius Has Invested $500 Million in Mining Mashinsky told The Block on…

[ad_2]

Source link

You might also like
Leave A Reply

Your email address will not be published.