Sweden orders six Boden crypto firms to pay nearly SEK 540 million in additional tax

  • Skatteverket pursued nearly SEK 540 million in additional tax from six Boden crypto companies.
  • Nine Swedish crypto companies received tax adjustments exceeding SEK 500 million from 2024 to 2026.
  • Bikupan Datacenter appealed its assessment to Sweden's Supreme Administrative Court during corporate restructuring.

Sweden's tax authority, Skatteverket, is pursuing nearly SEK 540 million, or about $56.4 million, in additional tax from six cryptocurrency-related companies in Boden. The agency says the firms used arrangements that concealed mining activity and allowed them to claim tax benefits unavailable to properly classified crypto-mining businesses. The reassessments are part of Skatteverket's nationwide crypto-sector review spanning 2024 to 2026. Nine companies received tax adjustments exceeding SEK 500 million during that period, with the six Boden firms accounting for most of the total. An SVT investigation in 2024 estimated that crypto companies had deprived the Swedish state of about SEK 1 billion in taxes, with many cases centered in Boden. Bikupan Datacenter, which operated in Boden and Robertsfors and is connected to HIVE Digital Technologies, is the only company publicly identified among the six. It has entered corporate restructuring after being unable to pay its debts and has appealed its tax case to Sweden's Supreme Administrative Court. Bikupan says it sold computing capacity to independent mining pools rather than mining cryptocurrency itself, while Skatteverket maintains that the reviewed business was mining activity. HIVE has reduced Bitcoin mining at its Boden facility while converting the site into a liquid-cooled high-performance computing center for artificial-intelligence workloads. The Supreme Administrative Court's handling of Bikupan's appeal could determine how Swedish tax rules distinguish computing-capacity providers from crypto miners.

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