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Argo Blockchain is among the top 5 most actively traded stocks of Fidelity

The crypto mining company Argo Blockchain (NASDAQ 🙂 is among the top five most actively traded stocks by Fidelity customers in 2021.

The central theses

  • Argo Blockchain was the third most traded stock by Fidelity customers in 2021.
  • The crypto mining company has seen higher trading volumes than BP (NYSE 🙂 and or Lloyds Banking (NYSE :), although it is a much younger and smaller company.
  • Argo is currently trading at a valuation of $ 450 million.

Fidelity Investments, one of the largest asset management companies in the world, announced today that Argo Blockchain was the third most traded stock for the company’s customers in 2021.

Increased appetite for crypto mining stocks

Argo Blockchain, the first cryptocurrency mining company listed on the London Stock Exchange, has been ranked the third most traded stock by Fidelity customers for the past 12 months.

Today Fidelity Investments released a list of the most actively traded stocks of its clients over the past year. The list is in descending order of trading volume and includes aircraft engine maker Rolls-Royce (OTC :), owner of British Airways International Consolidated Airlines (OTC :), crypto mining company Argo Blockchain, oil giant BP, and Lloyds Banking.

Argo Blockchain was the first cryptocurrency mining company to be listed on the London Stock Exchange. According to data posted on its website, the company’s North American-based facilities consume 45 megawatts of electricity to generate over 1.6 EH / S and 280 megasol in mining electricity. This puts Argo’s capacity at the top of global mining operations, accounting for about 0.6% and 5%, respectively, of total global mining capacity for Bitcoin or ZCash.

The company has a current Market capitalization of around $ 450 million and his stock trading is around £ 97 per share, which is well below his All time high of 282 GBP in February. Interestingly, while Argo’s stock is a significantly younger and smaller company than BP or Lloyds Banking, it has seen more trading volume with Fidelity clients over the past year.

In November, Argo announced the construction of a $ 2 billion crypto mining facility in Texas. After a ban on cryptocurrency mining in China, the US has become the new world leader in crypto mining, accounting for around 35.4% of the global Bitcoin hashrate in August. Several U.S. states, including Texas, Kentucky, and Wyoming, have given cryptocurrency miners a particularly warm welcome and offered lower electricity prices to attract and keep them.

Source: Crypto News Deutsch

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