3 blockchain stocks alternatives to cryptocurrencies to put in your portfolio

Riot Blockchain (NASDAQ: RIOT)

Riot Blockchain, a cryptocurrency mining company based in Colorado, is focusing on this activity in North America. The company is divided into four sections: Engineering, Data Center Hosting, Electrical Products, and Bitcoin Mining.

Approximately 31,000 miners were employed by the firm as of December 31, 2021. Riot Blockchain is owned by 14 hedge funds, with a total investment valued at $28.58 million in Q1 2022. In the prior quarter, 18 hedge funds had positions totaling $37.12 million according to Insider Monkey.

Bitfarms Limited (TSE:BITF)

Bitfarms Ltd is another bitcoin mining company headquartered in Canada. The company owns and operates farms of miners that verify transactions on the Bitcoin blockchain, allowing it to generate revenue from block rewards and transaction fees in the form of BTC.

The company said its current infrastructure construction contracts are expected to generate an improved hash rate of 6.0 PE/s by the end of 2022 in its May 16 announcement of 2022 milestones and targets.

According to reports, the company’s quarterly hash rate targets for 2022 are 4.0 EH/s (exahash per second) by June 30, 4.2 EH/s by September 30, and 6 .0 PE/s by December 31.

Argo Blockchain Plc (LON:ARB)

Bitcoin and other cryptocurrencies are operated by Argo Blockchain Plc, a company headquartered in the United Kingdom. The firm was established in 2017. According to Insider Monkey, 5 hedge funds held positions worth $2.54 million in Argo Blockchain at the end of Q1 2022. In the previous quarter, 8 hedge funds had positions worth $2.54 million. positions totaling $3.10 million.

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