Step 1: Understanding the magnetic field and moment relationship.
The magnetic moment \( M \) of a current-carrying loop is given by:
\[
M = I \cdot A
\]
where \( I \) is the current and \( A \) is the area of the loop. The magnetic field at the center of the loop is related to the current and area by:
\[
B = \frac{\mu_0 I}{2 A}
\]
Thus, the current \( I \) can be written as:
\[
I = \frac{2BA}{\mu_0}
\]
Step 2: Substituting in the magnetic moment formula.
Now, substituting for \( I \) in the magnetic moment formula, we get:
\[
M = \frac{2BA}{\mu_0} \cdot A = \frac{2BA^2}{\mu_0 \pi^2}
\]
Step 3: Conclusion.
The magnetic moment is \( \frac{2BA^2}{\mu_0 \pi^2} \), which is option (B).