The Sacramento Kings are set to become the first professional sports team to mine cryptocurrency — specifically, Ethereum — for charity.
‘Pioneers in exploring cryptocurrency and its potential impact’
Yesterday, the Sacramento Kings, a professional basketball team playing in the NBA, announced a new charitable program called MiningForGood. The Vivek Ranadivé-owned team will now install cryptocurrency mining equipment in the Golden 1 Center — marking the first Tier 4 data center ever built in a professional sports arena. The Kings will also become the first professional sports team in the world to mine cryptocurrency.
The MiningForGood is part of a multi-year scholarship program aimed at supporting Sacramento-based causes focused on transforming Black communities in Sacramento. As noted by the Kings’ official website, “As cryptocurrency continues to grow in popularity, the MiningForGood program can serve as a blueprint for large organizations and businesses to embrace emerging platforms as an engine for social change.”
Ranadivé, Owner and Chairman of the Kings, stated:
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.
The Kings will utilize Imperium model machines from MiningForGood-partner MiningStore.com, which will mine Ethereum, the second largest cryptocurrency by market capitalization. “The Kings partnered with MiningStore because of their durable and efficient computers,” the team’s official website explains.
MiningStore Founder JohnPaul Baric stated:
The Sacramento Kings are pioneers in exploring cryptocurrency and its potential impact. We’re thrilled to partner with a forward-thinking organization that looks for ways to create positive change – through technology or sports.
Likewise, Chet P. Hewitt, President and CEO, Sierra Health Foundation and founding member of the MiningForGood-partner Build. Black. Coalition, stated:
Our innovative partnership with the Sacramento Kings is an example of how technology can both inspire the next generation entrepreneurs and support the development of a 21st-century workforce in Sacramento. What is truly amazing about this effort is our collective commitment to ensuring youth from every community have the opportunity to participate and succeed in our regions economic renaissance.
The Sacramento Kings were notably the first professional sports team to accept Bitcoin.
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