Bitcoin · CryptoSlate
HIVE’s $84.7 million Swedish tax provision eclipsed revenue even as Bitcoin output hit a record
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
HIVE Digital Technologies booked an $84.7 million non-cash Swedish tax provision tied to contested VAT exposure after adverse court rulings led it to change its accounting assessment.
Key facts
- The Swedish tax provision exceeded HIVE’s $79.1 million quarterly revenue and equaled about 40.7% of its $208 million cash balance
- HIVE’s filing breaks the provision into about $76.6 million in disputed input VAT, $1.5 million in tax supplements, and $6.6 million in interest
- HIVE reported $72.1 million of crypto mining revenue and 1,004 BTC received, up 147% from 406 BTC a year earlier
- HIVE’s March 31 annual filing said it had not paid a separately demanded SEK 84 million, about $9.4 million, tranche as of that date
Summary
01 HIVE booked an $84.7 million non-cash Swedish VAT liability after adverse court rulings changed its accounting. 02 The provision exceeded quarterly revenue and equaled 40.7% of HIVE’s $208 million cash balance. 03 Filings disclose no payment timetable; interest accrues while HIVE’s remaining appeal faces low odds of success. Despite receiving 1,004 BTC during the quarter, the provision helped drive a $142.9 million GAAP net loss.