Bitcoin mining company asks UniCredit bank a millionaire compensation

The Italian banking group sued by the mining company Bitminer Factory, which complains about the allegedly closure of its bank accounts.

Italian banking giant UniCredit has been fined $144 million for allegedly close accounts dealing with a cryptocurrency mining company.

The court of Banja Luka, a city located in the Serbian Republic of Bosnia and Herzegovina, accepted at first instance most of the requests made by the company Bitminer Factory d.o.o. Gradiška, a Bosnian subsidiary of a company based in Sesto Fiorentino which emerges as the first and largest mining farm in Italy in 2017, thus condemning the local branch of the bank to pay 256,326,152 Bosnian marks in damages, corresponding to approximately 131, 2 million euros ($ 144 million).

The sentence compare in Unicredit's 2021 balance sheet, which report that a compensation was requested by the company for the alleged damages suffered "following the allegedly unjustified closure of its current accounts by Unicredit Bank (…). Bitminer asserts that the closure of its accounts would have hindered its Initial coin offering (Ico) in relation to a startup project in the sector of cryptocurrency mining with renewable energy in Bosnia and Herzegovina".

Unicredit appealed the decision in January 2022, underlining that "it is not definitive, neither binding, nor enforceable. UCBL's possible liability will be determined only by the definitive outcome of all available procedural remedies and, in any case, not before the filing of a definitive and binding sentence by the Court of Appeal".