Argo Blockchain Becomes One Of The Industry's Top Blockers By Top Consumers In 2021

The UK arm of financial services firm Fidelity Investments reports that over the past 12 months, consumers have shown particular interest in cryptocurrency mining firm Argo Blockchain.

In Thursday's report, Fidelity ranked Argo Blockchain as the third top five most traded commodity in 2021, followed by Rolls-Royce and British Airways. ) Owners of International Consolidated Airlines, British Petroleum (BP) and Lloyds Banking Group (Lloyd's Banking Group). Fidelity qualifies Argo as a “trading company” and ranks third on the commodity exchanges traded by private repo traders (SIPP).

However, the financial services firm said Argo will not make the top five for the next five years. Fidelity said the "start-up" excluded mining companies from the list of the most active products in December, including new test equipment from Crown.Genedrive, fast retailer Boohoo Group and trading company Smiths Group.

Argo Blockchain, one of the first cryptocurrency mining companies listed on the London Stock Exchange in 2018, has continued to expand its business. In September of this year, Argo went public on the Nasdaq, which made it easier for U.S. investors to buy stock companies. Additionally, the company is currently building a 320-acre facility in West Texas with the goal of "obtaining up to 800 megawatts of electricity" to mine Bitcoin and other cryptocurrencies.

According to website data, the Argo facility in North America currently consumes 45 megawatts of electricity, generating over 1.6 EH / S of Bitcoin performance. Last November, the company announced that it had created 1,831 bitcoins and held 2,317 bitcoins, or “bitcoin equivalent”.

Argo shares are currently trading at $ 130.10 on the London Stock Exchange, down 65% since reaching an all-time high of $ 380.96 in February.