HIVE to Gradually Cease Bitcoin Mining Operations in Sweden, While Expanding AI Data Center Capacity in Canada

Odaily News Bitcoin mining company HIVE announced that due to tax disputes and operational uncertainties, the company is gradually reducing its Bitcoin mining operations in Sweden. The company also announced that, through its subsidiary BUZZ High-Performance Computing Corp., it is quadrupling the capacity of its liquid-cooled artificial intelligence data center in Canada. It is reported that HIVE's Swedish subsidiary is facing increasingly severe challenges in its traditional hash rate production business, including enforcement actions and what the company describes as the Swedish authorities' "misapplication of existing tax laws." Despite having supporting opinions from local experts, including multiple law firms, a top-tier accounting firm, and a Swedish VAT specialist, the authorities still require the company to pay a security deposit related to the disputed tax assessment. (The Block)