Argo Blockchain, JPMorgan Chase, PayPal among other industries get initiated at BofA

Bank of America (NYSE:BAC) analyst Julien Dumoulin-Smith launches digital asset coverage, which includes a wide range of industries from payment providers and utilities and media giants. Specifically, cryptocurrency miner Argo Blockchain (ARBK -1.8%) is highlighted in the note as the company's focus on energy efficiency is a potential competitive advantage, supporting lower cost mining operations. Argo (NASDAQ:ARBK) said it has the highest petahash to megawatt ratio of publicly traded crypto companies. BofA lists the buy and neutral-rated names in its existing global coverage with exposure to digital assets including payment provider PayPal (PYPL -3.8%) at the top of the list, followed by Signature Bank (SBNY +2.1%), JPMorgan Chase (JPM -0.3%) and Morgan Stanley (MS -1.9%). In August, commercial bank JPMorgan (NYSE:JPM) disclosed plans to offer an in house bitcoin fund to a subset of its client base. PayPal most recently introduced its first version of a new app for integrated