Company: ARBK
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001104659-25-049311
Chunk: 85

Company: Argo Blockchain Plc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4A
Chunk 85
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 immediately above.

If we are treated as a PFIC, a U. S. Holder will generally be subject to similar rules with respect to distributions we receive from, and our dispositions of the stock of, any of our direct or indirect lower-tier non-U. S. subsidiaries that are also treated as PFICs, as if such distributions were indirectly received by, or dispositions were indirectly carried out by, such U. S. Holder. U. S. Holders should consult their tax advisors regarding the application of the PFIC rules to our lower-tier non-U. S. subsidiaries.

A U. S. Holder can avoid certain of the adverse rules described above by making a timely mark-to-market election with respect to its ordinary shares or ADSs, provided that the ordinary shares or ADSs are “marketable.” ordinary shares or ADSs will be marketable if they are “regularly traded” on a “qualified exchange” or other market within the meaning of applicable Treasury regulations. In general, an ordinary share or an ADS will be considered regularly traded during any calendar year during which such ordinary share or ADS is traded, other than in de minimis quantities, on at least fifteen days during each calendar quarter. Our ordinary shares or ADSs will be treated as “marketable” as long as they remain listed on the Nasdaq and are regularly traded. If a U. S. Holder makes the mark-to-market election, it will be subject to the following tax consequences:

  The U. S. Holder will recognize each taxable year as ordinary income any excess of the fair market value of the ordinary shares or ADSs at the end of such taxable year over their adjusted tax b...  

  The U. S. Holder will recognize each taxable year an ordinary loss in respect of any excess of the adjusted tax basis of the ordinary shares or ADSs over their fair market value at the end of s...  

  The U. S. Holder ’ s tax basis in the ordinary shares or ADSs will be adjusted annually to reflect the income or loss amounts recognized.  

  Any gain recognized on the sale or other disposition of ordinary shares or ADSs in a year when we are a PFIC will be treated as ordinary income and any loss will be treated first as ordinary lo...  

A mark-to-market election will not apply to any of our non-U. S. subsidiaries, and therefore, a U. S. Holder may continue to be subject to tax under the rules discussed above with respect to any of our lower-tier subsidiaries that are