Cryptocurrency mining company HIVE Blockchain will postpone the filing of its financial statements until February 28 due to an unexpected tax notice issued to one of its European subsidiaries.
HIVE Blockchain planned to file its 2022 interim financial statements on 14 February 2023, announced On February 15, one of its subsidiaries announced that it had received a tax notice that it needs to address before filing its financial statements.
HIVE explained that maintaining business operations in Canada, Sweden and Iceland involves complex reporting. Each country has its own filing requirements and companies should consult with their local accounting firm.
As a result, HIVE said it has decided to delay its interim financial reporting to give it more time to assess the potential impact of tax notices, as required by Canadian securities laws. .
Meanwhile, the mining company has issued a trading halt to the British Columbia Securities Commission, restricting HIVE executives, including CEO Frank Holmes, from trading the shares until interim documents are formally filed. He said he had applied for the order.
HIVE added that it plans to file interim financial statements by February 28, 2023.
HIVE Mining Performance in 2022
By the end of December 2022, HIVE reported that its mining operations had mined approximately $54.2 million worth of approximately 3,146 BTC. Compared to about 4,032 BTC mined in 2021, that number increased by 18% year-on-year.
The mining company also installed about 2,050 mining rigs in December 2022, including 1,423 BuzzMiner BTC miners.
