Sweden’s tax authority has issued roughly $56.5 million in back taxes and penalties to six cryptocurrency mining companies in the city of Boden, according to Bitcoin.com. The agency alleges the firms used complex corporate structures to disguise their mining operations and improperly claim tax breaks intended for data centers. The enforcement action stems from an industry-wide audit carried out between 2024 and 2026. Across Sweden, nine mining companies were assessed for more than $50 million in additional taxes, with the six Boden-based firms accounting for most of that total. One of the affected companies, Bikupan Datacenter, a subsidiary of Hive Digital, has entered financial restructuring after being unable to meet the tax bill and has appealed the ruling to Sweden’s Supreme Administrative Court. Earlier reporting by public broadcaster SVT Norrbotten said crypto mining companies had already cost the Swedish government about $100 million in lost tax revenue.
Sweden’s tax agency has issued about $56.5 million in back taxes and penalties, or roughly SEK 540 million, to six cryptocurrency mining companies in Boden, according to Bitcoin.com. Authorities accuse the firms of disguising their mining operations through complex corporate structures and improperly obtaining tax benefits meant for data centers.
Audit covered the industry from 2024 to 2026
The action follows an industry-wide audit conducted from 2024 to 2026. In total, nine mining companies across Sweden were ordered to pay more than $50 million in taxes, with the six Boden firms making up the large majority of that amount.
Hive Digital subsidiary begins restructuring and appeals
Among the companies involved, Bikupan Datacenter, a subsidiary of Hive Digital, has begun financial restructuring after being unable to pay the tax claim. The company has also appealed the tax decision to the Supreme Administrative Court.
Earlier SVT Norrbotten report estimated $100 million in lost tax revenue
Earlier, an investigation by public broadcaster SVT Norrbotten said crypto mining companies had cost the Swedish government about $100 million in tax revenue overall.
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