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HIVE will gradually phase out its mining operations in Sweden (Bitcoin) while expanding its AI data center in Canada.
Svmuu News Bitcoin Mining company HIVE announced that, due to tax disputes and operational uncertainties, it is gradually scaling back its mining operations in Sweden Bitcoin. The company also announced that it is quadrupling its liquid-cooled AI data center capacity in Canada through its subsidiary, BUZZ High-Performance Computing.Reportedly, HIVE’s Swedish subsidiary faces mounting challenges in its traditional mining operations, including law enforcement actions and what the company describes as “the erroneous application of existing tax laws” by Swedish authorities.Although the company has obtained supportive opinions from local experts, including multiple law firms, a top accounting firm, and Swedish VAT specialists, the authorities are still requiring it to post a security deposit related to the disputed tax assessment. (The Block)
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