Swedish Tax Agency Recovers $56.5 Million from Six Crypto Mining Companies

The Swedish Tax Agency has recovered approximately 540 million Swedish kronor (about $56.5 million) in taxes and fines from six cryptocurrency mining companies located in Boden. These companies are accused of concealing their actual crypto mining operations through complex corporate structures to obtain tax benefits originally intended for ordinary data processing centers. The head of the intelligence department at the Swedish Tax Agency stated that the relevant companies hid their mining activities through special arrangements to gain unauthorized tax advantages. This action stems from the Swedish Tax Agency's industry audit for 2024 to 2026, during which a total of nine crypto companies nationwide were pursued for over $50 million in unpaid taxes and fines, with six of the Boden-based companies accounting for the majority. Some of the involved companies have filed appeals, but both the Swedish Administrative Court and the Court of Appeal upheld the tax authority's findings. Bikupan Datacenter has entered financial restructuring due to its inability to meet tax obligations and is currently appealing the case to the Swedish Supreme Administrative Court.

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