$56.5M Tax Bill Hits Swedish Crypto Miners

Sweden's Tax Agency has ordered six crypto mining firms to pay $56.5 million in back taxes and penalties.

The companies, which operated in Boden, allegedly used complex corporate structures to claim tax benefits meant for data centers.

Bikupan Datacenter, one of the affected companies, has entered financial restructuring after failing to meet its tax liabilities and is appealing to Sweden's Supreme Administrative Court.

Bikupan CEO Johanna Törnblad disputed the findings, saying that its crypto mining was carried out by independent external mining pools rather than the HIVE group.