Sacramento Kings Will Be The First Sports Team To Mine Cryptocurrency

The Sacramento Kings have not shied away from embracing technology. The basketball team boasts a solar-powered sports arena, has a Bitcoin-only (BTC-USD) marketplace and is now diving into crypto mining. The NBA franchise announced on Wednesday that it is launching a charitable program known as MiningforGood.

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Setting the stage for yet another technological blueprint, the Sacramento Kings that it had joined hands with global cryptocurrency leader to MiningStore.com. The team already has an advanced data center and technology infrastructure at the Golden 1 Center. It is touted as the most technologically advanced and sustainable arena in the world.

Partnership benefits

The sports team partnership with MiningStore.com will enable it to mine cryptocurrency at its Golden 1 Center arena. The team will install cryptocurrency mining machines at their tier 4 data center making it the first team in the world to mine digital currency. They will use MiningStore’s Imperium machines to mine the Ethereum Crypto.

The Owner and Chairman of Sacramento Kings, Vivek Ranadive said that opportunity begins when technology allows the world to find innovative solutions to complex problems.

Ethereum (ETH-USD) is a public, open-sourced system that uses blockchain technology. These Imperium mining machines will verify other coin user transactions through solving of complex mathematical data. Then a share of the transaction will be channeled towards the MiningForGood program.

Scholarship program

The MiningForGood project is a foundation for a multi-year scholarship program started so as to support causes starting with Build Black Coalition based in Sacramento. This is a group of Sacramento community leaders organized to support transformational change for Black communities in the region. The MiningForGood program aims to serve as an example for large organizations and businesses to embrace new technology as an engine for social change.

Ranadive stated that through MiningForGood, not only will the sports team raise funds to help with workforce development and training, but they aim to inspire the next generation of tinkerers and thinkers to create change in their own communitie and around the globe.

The NBA team recently partnered with Build Black to host the “Kings and Queens Rise” co-ed summer basketball league. The MiningForGood grants will support workforce development and technology education programs in Sacramento through the partnership.

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