Italy’s second-largest bank UniCredit and the Bitcoin (BTC) mining farm Bitminer Factory have faced each other in the Bosnian city Banja Luka court, which decided that the bank improperly closed the company’s account and must compensate €131 million (about $144 million) to the plaintiff.
As reported in La Repubblica on March 27, the court of Banja Luka held that a Bosnian branch of UniCredit didn’t have legitimate reasons to freeze the operations of Bitminer Factory Gradiska LLC’s account. The Bitminer Factory estimated its losses at €131 million, asserting that the closure of its accounts had “hindered its initial coin offering (ICO) in relation to a startup project in the cryptocurrency mining sector with renewable energy in Bosnia and Herzegovina.” The court accepted that number.