Gate News reports that on March 16, Bitcoin mining company HIVE announced that due to tax disputes and operational uncertainties, the company is gradually reducing its Bitcoin mining operations in Sweden. At the same time, HIVE, through its subsidiary BUZZ High-Performance Computing, has expanded its liquid-cooled AI data center capacity in Canada by four times. It is reported that HIVE’s Swedish subsidiary is facing increasingly severe challenges in its traditional computing business, including law enforcement actions and the Swedish authorities’ “misapplication of existing tax laws.” Although the company has received support opinions from multiple law firms, a top accounting firm, and Swedish VAT experts, the authorities still require it to pay a guarantee related to the disputed tax assessment.
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