Crypto mining agency HIVE Blockchain plans to delay submitting its monetary assertion until Feb. 28 as a consequence of unexpected tax notices issued to one in every of its European subsidiaries.

HIVE Blockchain was as a consequence of submit its 2022 interim monetary statements on Feb. 14, 2023. Nonetheless, it introduced on Feb. 15 that one in every of its subsidiaries obtained a tax discover that must be addressed earlier than the monetary assertion is filed.

HIVE defined that sustaining enterprise operations throughout Canada, Sweden, and Iceland comes with reporting issues. Every nation has distinctive submitting necessities which require the agency to seek the advice of native accounting companies.

Because of this, HIVE mentioned it has moved to delay the interim monetary submitting as required by Canadian securities legal guidelines to allow the corporate to have extra time to evaluate the potential affect of the tax discover.

Within the meantime, the mining agency mentioned it has utilized to British Columbia Securities Fee for a stop commerce order that can prohibit HIVE executives, together with CEO Frank Holmes from buying and selling the shares till the interim filings are duly submitted.

HIVE added that it expects to file the interim monetary assertion on or earlier than Feb. 28, 2023.

HIVE mining efficiency in 2022

By the tip of Dec. 2022, HIVE reported that its mining operations mined about 3,146 BTC price roughly $54.2 million. The quantity elevated by 18% year-over-year when in comparison with some 4,032 BTC it mined in 2021.

The mining agency additionally put in about 2,050 mining rigs in Dec. 2022, together with 1,423 BuzzMiner BTC miners.