HIVE Digital escalates Swedish VAT dispute to European Commission amid $85M tax provision hit

HIVE Digital Technologies has taken its ongoing Swedish VAT dispute to the European Commission after lower courts sided with tax authorities, who argue HIVE's activities qualify as cryptocurrency mining and thus are outside VAT reclaim rules. The company, which contends it sells computing services rather than mining Bitcoin itself, faces an $84.7 million non-cash provision impacting its finances and has shifted operations from Bitcoin mining in Sweden to high-performance computing elsewhere. The case highlights broader tensions over tax classification of crypto-related services in the EU and could affect future investment decisions in the sector. HIVE plans to continue challenging the assessments and pursue all legal remedies available.

HIVE Digital Technologies' legal battle over VAT classification in Sweden adds to the uncertainty facing the company. On Pluang, HIVE trades at Rp1.051, down 2.43% in the past day as of Sep 28, 2026 00:51 WIB, with a market cap of Rp619,81 million and a 24-hour trading volume of Rp20,33 million. Investors have held the stock for an average of 43 days on the platform, reflecting moderate trading interest amid ongoing regulatory challenges.