{"id":553964,"date":"2026-08-12T22:40:19","date_gmt":"2026-08-12T21:40:19","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=553964"},"modified":"2026-08-12T21:40:16","modified_gmt":"2026-08-12T20:40:16","slug":"bitcoin-miner-hives-79m-quarter-runs-into-an-80m-swedish-tax-problem","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-miner-hives-79m-quarter-runs-into-an-80m-swedish-tax-problem\/","title":{"rendered":"Bitcoin miner HIVE\u2019s $79M quarter runs into an $80M Swedish tax problem"},"content":{"rendered":"<p>Bitcoin miner HIVE Digital Technologies missed the Aug. 10 deadline for its quarter-ended-June 30 Form 10-Q even as preliminary revenue climbed to approximately $79 million.<\/p>\n<p>In an Aug. 11 late-filing notice, the firm said the delay relates exclusively to the accounting and disclosures for contested Swedish value-added tax assessments, and that it expects to file within the Rule 12b-25 extension period.<\/p>\n<p>HIVE said recent developments in the Swedish proceedings increased the probability that <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1720424\/000106299326004186\/formnt10q.htm\">it would record a noncash accrual<\/a>. It needs more time to decide the accounting amount and finish the related financial statements and disclosures.<\/p>\n<p>Until that amount is set, investors have a preliminary top-line figure but no quantified view of expected losses.<\/p>\n<p>Revenue for the quarter is preliminarily expected to rise about 73% from $45.6 million a year earlier. <a href=\"https:\/\/cryptoslate.com\/companies\/hive\/\">HIVE<\/a> attributed the increase mainly to more <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin<\/a> rewards from higher company hashrate and the start of revenue recognition under a previously announced high-performance computing contract.<\/p>\n<p>The figures remain management estimates and could change as the reporting process is completed.<\/p>\n\n<div class=\"cs-article-embed\">\n    <a href=\"https:\/\/cryptoslate.com\/bitcoin-miners-pivot-to-ai-is-now-an-immediate-risk-to-network-security-but-btc-revenue-will-still-eclipse-ai-by-over-4b\/\" class=\"cs-article-embed__link\">\n        <div class=\"cs-article-embed__body\">\n            <span class=\"cs-article-embed__related-reading\">Related Reading<\/span>\n            <h3 class=\"cs-article-embed__title\">Latest Bitcoin data proves BTC miners need price to retake $80k to stop lure of $4B in AI revenue<\/h3>\n        <\/div>\n        <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\">\n            <i class=\"fa-light fa-arrow-up-right\"><\/i>\n        <\/span>\n    <\/a>\n<\/div>\n\n<p>That leaves three distinct financial markers: a $79 million revenue estimate, SEK 765.6 million of assessed exposure, and an accounting accrual that HIVE has not yet determined.<\/p>\n<figure id=\"attachment_553965\" aria-describedby=\"caption-attachment-553965\" style=\"width: 720px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-f2be24ae-ccda-41ed-a308-d08fc5853bbc.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-553965\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-f2be24ae-ccda-41ed-a308-d08fc5853bbc.png\" alt=\"Infographic comparing Bitcoin miner HIVE's preliminary revenue growth with its expected losses and unresolved Swedish VAT accrual\" width=\"720\" height=\"1080\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-f2be24ae-ccda-41ed-a308-d08fc5853bbc.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-f2be24ae-ccda-41ed-a308-d08fc5853bbc-200x300.png 200w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-f2be24ae-ccda-41ed-a308-d08fc5853bbc-683x1024.png 683w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-f2be24ae-ccda-41ed-a308-d08fc5853bbc-768x1152.png 768w\" sizes=\"(max-width: 720px) 100vw, 720px\" \/><\/a><figcaption id=\"caption-attachment-553965\" class=\"wp-caption-text\">HIVE expects quarterly revenue near $79 million, up 73%, while warning of higher losses and unresolved Swedish VAT accruals.<\/figcaption><\/figure>\n<h2>The missing charge sits below the revenue line<\/h2>\n<p>HIVE expects operating and net losses to increase significantly from the prior-year quarter, primarily due to a potential VAT-related charge, but said it cannot yet provide reasonable estimates for either loss.<\/p>\n<p>The comparable quarter produced $35 million of GAAP net income and carried no such charge, according to HIVE's <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1720424\/000106299325014528\/exhibit99-1.htm\">prior-year results<\/a>.<\/p>\n\n<div class=\"cs-article-embed\">\n    <a href=\"https:\/\/cryptoslate.com\/hive-expands-european-footprint-with-strategic-swedish-data-center-acquisition\/\" class=\"cs-article-embed__link\">\n        <div class=\"cs-article-embed__body\">\n            <span class=\"cs-article-embed__related-reading\">Related Reading<\/span>\n            <h3 class=\"cs-article-embed__title\">HIVE expands European footprint with strategic Swedish data center acquisition<\/h3>\n        <\/div>\n        <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\">\n            <i class=\"fa-light fa-arrow-up-right\"><\/i>\n        <\/span>\n    <\/a>\n<\/div>\n\n<p>HIVE's <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1720424\/000106299326002973\/form10k.htm\">fiscal 2026 annual filing<\/a> disclosed Swedish VAT assessments totaling SEK 765.6 million, then approximately $80.5 million, while management said at the time that the amount claimed as owed was not probable.<\/p>\n<p>That assessed total is not a proxy for any potential accrual: the Aug. 11 notice says HIVE still cannot determine the accounting amount.<\/p>\n<p>HIVE said an accrual would be noncash when recognized and would not, by itself, represent a current payment. Its ultimate financial impact will depend on how the proceedings are resolved and may differ from the amount booked.<\/p>\n\n<div class=\"cs-article-embed\">\n    <a href=\"https:\/\/cryptoslate.com\/trumps-bitcoin-made-in-america-push-runs-into-a-power-problem-the-tax-bill-cannot-fix\/\" class=\"cs-article-embed__link\">\n        <div class=\"cs-article-embed__body\">\n            <span class=\"cs-article-embed__related-reading\">Related Reading<\/span>\n            <h3 class=\"cs-article-embed__title\">Trump\u2019s Bitcoin made in America push runs into a power problem the tax bill cannot fix<\/h3>\n        <\/div>\n        <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\">\n            <i class=\"fa-light fa-arrow-up-right\"><\/i>\n        <\/span>\n    <\/a>\n<\/div>\n\n<p>The completed 10-Q should therefore answer the question the revenue estimate cannot: how much the Swedish VAT accounting decision weighs on reported earnings.<\/p>\n<p>Until then, HIVE's $79 million top-line estimate remains preliminary, its expected operating and net losses remain unquantified, and the potential charge is still unpriced.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Preliminary revenue reached about $79 million, yet HIVE cannot quantify the possible noncash accrual or its expected losses.<\/p>\n","protected":false},"author":1264,"featured_media":554236,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80573,77952,77968,2376],"tags":[81073,78295,77433],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin miner HIVE\u2019s $79M quarter runs into an $80M Swedish tax problem<\/title>\n<meta name=\"description\" content=\"Preliminary revenue reached about $79 million, yet HIVE cannot quantify the possible 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