Bolooba

Overview

Bolooba filed bankruptcy in March 2019, after Skatteverket (national tax agency) limited the scope for data centres to qualify for tax reductions on electricity.

In 2017, Swedish authorities introduced a tax relief on electricity used by data centres which cut 97% of tax it paid. In turn, it could reduce an individual operator's bill by 40% aided to attract foreign investment from biggest operators in the industry. Two years later the aid was withdrawn. This hit hard some of the operators, such as Bolooba.