Swedish Tax Agency demands $56.5M from six crypto mining firms

The Swedish Tax Agency (STA) has imposed approximately $56.5 million (540 million Swedish kronor) in back taxes and penalties on six cryptocurrency mining companies located in Boden. An investigation into tax avoidance schemes revealed that these firms utilized misleading operational structures to disguise mining activities, allowing them to unlawfully claim state tax benefits intended for standard data processing centers.

The enforcement action is part of a broader 2024–2026 industry audit that targeted nine cryptocurrency firms nationwide, resulting in over $50 million in unpaid taxes and penalties. Patrik Lillqvist, head of intelligence at the STA, stated that the companies used special arrangements to hide their involvement in mining to obtain unauthorized tax relief.

Several targeted companies have appealed the assessments. While lower courts, including the Administrative Court and the Court of Appeal, have upheld the findings, some cases remain in litigation. Among the affected entities is Bikupan Datacenter, which has entered financial restructuring due to its tax liabilities and has appealed its case to the Supreme Administrative Court.