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Highlights
- Several investors have hopped on to the blockchain stock bandwagon with the unprecedented surge in the cryptocurrency value and its high return on investments.
- Majority of the digital currencies are based on blockchain technology, a digital public ledger that can track record of transactions.
Several investors have hopped on to the blockchain stock bandwagon on with unprecedented surge in the cryptocurrency value and its high return on investments. Blockchain is a digital public ledger that can track record record of transaction. Blockchain technology can be used for creating new currencies and organisations are using it to improve their operations, especially in complex and decentralised systems.
Blockchain stocks offer investors an opportunity to explore digital currencies. Here we take a look at five FTSE-listed blockchain stocks.
Argo Blockchain Plc (LON: ARB)
Argo Blockchain is an international company engaged in cryptocurrency mining. In July 2021, Argo Blockchain mined 225 Bitcoin equivalent (BTC) an increase from 167 BTC in June 2021. The total amount of BTC mined by the company year-to-date stands at 1,108 BTC.
For the first half of 2021 (ended 30 June 2021), revenues of Argo Blockchain rose by 180 per cent to £31.1 million compared to £11.1 million in H1 2020, due to the rise in production and an increase in Bitcoin price.
Its EBITDA rose by 332 per cent to £16.0 million in H1 2021 compared to £3.7 million in H1 2020, despite a £6.2 million lower revaluation of digital assets and a £1.6 million share-based payment. Pre-tax profit increased to £10.7 million in H1 2021 from £0.5 million in H1 2020.
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In the last one year, the shares of Argo Blockchain gave returns of 1,784.71 per cent and the market cap stood at £475.76 million as of 16 August 2021.
Quantum Blockchain Technologies Plc (LON: QBT)
Quantum Blockchain Technologies focuses on the research and development of cryptography and AI using Quantum Computing for cryptocurrency mining and other blockchain applications. On 6 July 2021, it announced the use of D-Wave Systems’ Leap™ quantum cloud service for the development of advanced cryptography algorithms for cryptocurrency mining applications.
For the year ended 31 December 2020, Quantum Blockchain’s operating loss reduced to €1.09 million (2019: €1.4 million), while net current assets increased to €4.9 million (2019: €2.5 million).
In the last one year, the shares of Quantum Blockchain Technologies gave returns of 353.65 per cent and the market cap stood at £12.34 million as of 16 August 2021.
Ethernity Networks Ltd (LON:ENET)
Ethernity is a supplier of data processing offload solutions on field-programmable gate arrays (FGPA) aimed at speeding up telecom and cloud networks. On 30 July 2021, it inked a new contract with an international wireless connectivity provider to supply UEP-60 products for $930,000. On 27 May 2021, Ethernity received an order valued at $2 million from Tarana Wireless for supplying ENET FPGA SoC.
Ethernity’s revenues for the year ended 31 December 2020 stood at $1.85 million, up by 38.0 per cent compared to $1.34 million in 2019. The company’s gross margins increased by 37.5 per cent to $1.58 million in 2020 compared to $1.15 million in 2019.
In the last one year, the shares of Ethernity Network gave returns of 150.00 per cent and the market cap stood at £23.52 million as of 16 August 2021.
Online Blockchain Plc (LON:OBC)
Online Blockchain is a blockchain research and development firms based in the UK. It offers blockchain technology and cryptocurrencies for various applications and is engaged in the maintenance and development of global cryptocurrency projects such as PlusOne Coin, and Brazio.
On 15 June 2021, DeFi protocol Umbria Network started the development of a blockchain bridge, under Online Blockchain’s supervision. Earlier, Online Blockchain announced the inauguration of a new office in Gibraltar on 25 May 2021. Its expansion to the new location was aimed at developing blockchain operations, particularly DeFi Protocol Umbria Network. Online Blockchain serves as an administrator, coordinator, and adviser for the DeFi Protocol Umbria Network.
In the last one year, the shares of Online Blockchain gave returns of 164.08 per cent and the market cap stood at £6.44 million as of 16 August 2021.
Riot Blockchain Inc (LON:0KX0)
Riot Blockchain is a company engaged in Bitcoin mining and boasts of a rapidly growing mining network in the US. The company aims at increasing Bitcoin mining hash rate and infrastructure capacity. Riot Blockchain’s current hash rate stood at 1.6 exahashes per second.
Riot Blockchain’s mining revenue stood at $23.2 million for the quarter ended on 31 March 2021, up by 881.1 per cent compared to $2.4 million for the same period in the previous year. The company’s total mined BTC grew by 62.0 per cent on a quarter-over-quarter basis, with 491 BTC mined in Q1 2021 compared to 303 BTC in the previous quarter.
Shares of Riot Blockchain were priced at €7.42 as of 16 August 2021.
