Argo Blockchain 6-K Shows J.P. Morgan Trims Holding Below 6.5 %

Rhea-AI Filing Summary

Argo Blockchain plc (NASDAQ: ARBK) filed a Form 6-K containing a U.K. TR-1 “Notification of Major Holdings.” The filing discloses that J.P. Morgan Securities LLC crossed a reporting threshold on 8 July 2025 and now holds an aggregate 6.34 % of Argo’s voting rights, equal to 36,590,032 votes.

The position is split between:

• 228,052 ordinary shares (0.40 % voting rights)
• 34,309,000 American Depositary Receipts (5.94 % voting rights) classified as financial instruments under DTR 5.3.1R (1)(a)
• 780 votes (0.0001 %) via an equity swap expiring 30 May 2028

The previous TR-1 (not dated in this filing) showed a total holding of 8.27 %. Therefore, J.P. Morgan reduced its economic exposure by roughly 1.93 percentage points, primarily by trimming its derivative-based ADR position (from 7.87 % to 5.94 %). Because the stake remains above the 5 % U.K. notification threshold, the institution remains a significant shareholder.

No operational, earnings or strategic updates were included. The disclosure is limited to the shareholding change and is signed by CEO Justin Nolan on 11 July 2025.

Positive

• Continued significant institutional ownership: J.P. Morgan still holds 6.34 % of voting rights, confirming ongoing interest from a major financial institution.
• Regulatory compliance: Timely TR-1 filing demonstrates Argo Blockchain’s adherence to U.K. and U.S. disclosure standards, reducing governance risk.

Negative

• Stake reduction: J.P. Morgan trimmed its economic exposure from 8.27 % to 6.34 %, potentially signalling decreased confidence.
• Derivative reliance: Majority of the remaining position (5.94 %) is held through ADR-linked financial instruments rather than outright shares, indicating less stable ownership base.

Insights

Financial Analyst

TL;DR: J.P. Morgan cut its Argo Blockchain exposure to 6.3 %, signalling lighter institutional support.

The disposal of roughly 1.9 % of voting rights is not catastrophic, but it does represent a meaningful reduction by a tier-one broker-dealer that previously held more than 8 %. Such moves can create short-term selling pressure and may be interpreted as waning confidence in Argo’s near-term crypto-mining outlook. The stake remains above 5 %, so J.P. Morgan is still a top holder, limiting the negative signal. Given the lack of other financial or operational data, the filing’s impact is moderately negative and should be monitored for further reductions.

Corporate Governance Specialist

TL;DR: Material shareholder change triggers governance visibility but no control issues.

This TR-1 satisfies U.K. transparency rules because a major shareholder crossed a 5 % threshold. The reduction does not give rise to takeover or control concerns; Argo’s free float remains broad. From a governance perspective, timely disclosure preserves compliance and limits regulatory risk. Impact on long-term governance structures is minimal, but continued selling by the same holder could influence future board dynamics if other investors follow suit.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________

FORM 6-K

_____________________

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July, 2025

Commission File Number: 001-40816

_____________________

Argo Blockchain plc

(Translation of registrant’s name into English)

_____________________

Eastcastle House

27/28 Eastcastle Street

London W1W 8DH

England

(Address of principal executive office)

_____________________

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒        Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

EXHIBIT INDEX

Exhibit No. 1 Description TR-1 Standard Notification of Major Holdings dated 11 July 2025

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached :			ARGO BLOCKCHAIN PLC ISIN GB00BZ15CS02
1b. Please indicate if the issuer is a non-UK issuer  (please mark with an "X" if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights
An acquisition or disposal of financial instruments						X
An event changing the breakdown of voting rights
Other (please specify):
3. Details of person subject to the notification obligation
Name			J.P. Morgan Securities LLC
City and country of registered office (if applicable)
4. Full name of shareholder(s) (if different from 3.)
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached :			08-Jul-2025
6. Date on which issuer notified (DD/MM/YYYY):			10-Jul-2025
7. Total positions of person(s) subject to the notification obligation
	% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)		Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer (8.A + 8.B)
Resulting situation on the date on which threshold was crossed or reached	0.395084	5.944630		6.339714	36590032
Position of previous notification (if applicable)	0.395084	7.871704		8.266788

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
A: Voting rights attached to shares
Class/type ofshares ISIN code (if possible)		Number of voting rights					% of voting rights
		Direct (DTR5.1)		Indirect  (DTR5.2.1)			Direct (DTR5.1)		Indirect (DTR5.2.1)
GB00BZ15CS02				2280252					0.395084
SUBTOTAL 8. A		2280252					0.395084%
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument		Expirationdate	Exercise/Conversion Period			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights
American Depository Receipts						34309000			5.944495
			SUBTOTAL 8. B 1			34309000			5.944495%
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial instrument	Expirationdate		Exercise/Conversion Period		Physical or cash Settlement			Number of voting rights	% of voting rights
Equity Swap	30/05/2028		30/05/2028		Cash			780	0.000135
					SUBTOTAL 8.B.2			780	0.000135%

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer
Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)				X
Name	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
J.P. Morgan Securities PLC		-	-
J.P Morgan Securities LLC		5.994630	5.994630%
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional information

Place of completion	10-Jul-2025
Date of completion	London

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: 11 July, 2025 ARGO BLOCKCHAIN PLC By: /s/ Justin Nolan Name: Justin Nolan Title: Chief Executive Officer

FAQ

Why did ARBK file a Form 6-K on 11 July 2025?

To disclose a TR-1 notification that J.P. Morgan Securities LLC crossed a major shareholding threshold on 8 July 2025.

How much of Argo Blockchain does J.P. Morgan currently own?

J.P. Morgan’s aggregate holding is 6.34 % of voting rights, equal to 36,590,032 votes.

Did J.P. Morgan increase or decrease its stake in ARBK?

It decreased its economic interest from 8.27 % to 6.34 % compared with the prior notification.

What portion of J.P. Morgan’s stake is in ADRs versus ordinary shares?

Approximately 5.94 % is via ADR-classified financial instruments; only 0.40 % is held as ordinary shares.

Does this filing include any earnings or operational updates?

No. The Form 6-K is limited to the shareholder notification and contains no financial results or operational commentary.