In the United Kingdom, investors who keep their portfolios with prominent retail broker Fidelity tend to like certain stocks. Rolls Royce and British Airways, for example, are at the top of the list. Lloyd's and British Petroleum are also among the top five stocks that most Fidelity clients prefer to accumulate as part of their investment assets. This year, however, there was an interesting addition to the list.
Argo Blockchain is a company that is mainly dedicated to cryptocurrency mining. This London firm has expanded its operations beyond Great Britain to North America, where it plans to set up renewable energy projects in order to support the server farms it operates for the purpose of mining tokens. Argo was the third on the list of top Fidelity stocks in 2021; the other two companies British investors preferred were the aforementioned Rolls Royce and British Airways.
As we know from previous years, investor confidence is essential for any company, and Argo is no exception. The market for renewable energy projects has been booming since the introduction of cryptocurrencies because of the nexus between electrical power requirements and mining operations. Fidelity is among the largest investors in that market, and it seems like Argo is one of the favored projects of investors who keep their investment portfolios with the retail brokerage.
This is the reason why it is not uncommon for investors to turn to Fidelity as a first port of call when they want to evaluate companies operating in the cryptocurrency and blockchain technology sectors. Argo Blockchain is a good example of that.
One notable aspect of this particular cryptocurrency miner is that its owners are based in the UK. That's a fact that also needs to be considered when the company is evaluated by investors. However, it seems like those investors are not particularly concerned by that, and they just want to benefit from the expected long-term success of the mining operation Argo is launching in North America.
Cryptocurrencies have made a tremendous impact on the financial markets, which are now in a process of change, and this includes investors taking a closer look at what cryptocurrency-oriented companies are doing.