The NBA team, Sacramento Kings announced on Wednesday that it will launch cryptocurrency mining to fund various community causes in Sacramento. The program is called MiningGood in collaboration with MiningStore.com. This makes Sacramento Kings the first sports team to mine digital currency as reported in Cnet.
The Kings installed a crypto mining machine called “Imperium” at the Golden 1 Center, known as the King’s arena in Sacramento. They intend to mine Ethereum cryptocurrency for this initiative. The said MiningForGood project aims to help Sacramento-based causes such as Build Black Coalition. Build Black Coalitions centers on building and developing black communities in Sacramento. They will help local black residents to get a technical education and prepare them for the workforce according to an article in Engadget.
The Sacramento Kings, Chief Technology Officer said, “By installing an advanced data center and infrastructure at Golden 1 Center, we’ve redefined how fans interact with our team and venue – creating a hyper-personalized and interactive experience. We’re able to extend our technology reach for good and support our partners working to make a profound change in our community while embracing emerging innovations and technology solutions.”
This move is not a surprise. This is not the first time that the Kings used cryptocurrency. They have started to venture into digital currency since last 2014. It accepted Bitcoin for its tickets and product sales. Then in 2016, they sponsored a tech startup tournament where the finalists pitched their business products/services to Kings’ fans. The winners were awarded cash, lunch with the team owner, and consultation with the Kings executives.
The Kings ‘ owner Vivek Ranadivé states in a press release that, “Opportunity begins when technology allows the world to find innovative solutions to complex problems. Through MiningForGood, not only will we raise funds to help with workforce development and training, we aim to inspire the next generation of tinkerers and thinkers to create change in their own community and around the globe.”
This only proves that the Kings ‘ owner Vivek Ranadivé, is always at the forefront when there’s an innovation.