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Sweden’s Tax Agency has ordered six crypto companies operating in Boden to pay nearly SEK 540 million, or about $56 million, in additional taxes after concluding that their business structures produced tax benefits they were not entitled to receive.
The decisions are part of a wider review of Sweden’s crypto industry running from 2024 through 2026. Nine companies have received increased tax assessments during that period, including six operating in the northern city of Boden.
Skatteverket Says Structures Obscured Crypto Mining Activity
Skatteverket said companies it inspected had used arrangements that obscured the fact that their operations involved cryptocurrency mining. How the businesses were classified affected their eligibility for tax advantages, including treatment associated with data center operations.
The agency concluded that some structures produced benefits that would not have applied if the activities had been treated as crypto mining. Sweden had already tightened the economics of mining operations in July 2023 when it removed a reduced electricity tax previously available to data centers.
Bikupan Datacenter Appeals Tax Assessment to Supreme Administrative Court
Bikupan Datacenter is the only one of the six Boden companies publicly identified in the latest reporting. The company, which is connected to HIVE Digital Technologies’ Swedish operations, disputes Skatteverket’s assessment and has taken its case to Sweden’s Supreme Administrative Court.
HIVE has separately disclosed earlier Swedish tax assessments involving the classification of computing activity and recovery of input VAT. Its Swedish subsidiaries received assessments totaling SEK 729.6 million covering periods between 2020 and 2025, with appeals still being pursued.
Bikupan CEO Johanna Törnblad maintains that the company sold computing capacity while independent mining pools performed the cryptocurrency mining.
Appeals Leave SEK 540M in Additional Tax Assessments Unresolved
Several crypto companies have challenged Swedish tax decisions through the administrative courts. Earlier rulings cited in the latest review favored Skatteverket, while Bikupan’s appeal remains pending before the Supreme Administrative Court.
The nearly SEK 540 million therefore represents additional tax assessments issued by the agency rather than money already collected from all six companies.
Bikupan is also undergoing corporate restructuring after becoming unable to meet its debts. Its tax appeal remains unresolved while the Supreme Administrative Court considers the classification of its historical computing operations.
