HIVE will gradually cease its Bitcoin mining operations in Sweden while expanding its AI data center capacity in Canada.

Odaily Planet Daily reports that Bitcoin mining company HIVE announced it is gradually reducing its Bitcoin mining operations in Sweden due to tax disputes and operational uncertainties. The company also announced that through its subsidiary BUZZ High-Performance Computing, it is expanding its liquid-cooled AI data center capacity in Canada fourfold. It is understood that HIVE’s Swedish subsidiary is facing increasingly severe challenges in its traditional computing power production business, including law enforcement actions and what Swedish authorities describe as “misapplication of existing tax laws.” Despite receiving 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. (The Block)