Well, this is an unusual use for an NBA arena: the NBA’s Sacramento Kings are planning on mining cryptocurrency via the advanced data center and tech infrastructure at Golden 1 Center, with proceeds going to charity.
Through a partnership with MiningStore.com, the team will install cryptocurrency mining machines in the only Tier 4 data center in a professional sports arena. The Kings are the first team in the world to mine digital currency, according to a press release issued by the team.
With this initial mining program, the Kings are laying the foundation for a multi-year scholarship program to support Sacramento based causes starting with the Build. Black. Coalition – a group of Sacramento community leaders organized to support transformational change for Black communities in Sacramento. 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.
“Opportunity begins when technology allows the world to find innovative solutions to complex problems,” said Sacramento Kings Owner and Chairman Vivek Ranadivé. “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 deploy MiningStore “Imperium” model machines mining Ethereum cryptocurrency. Ethereum is a public, open-sourced blockchain-based platform. These mining machines will verify other coin user transactions by solving complex mathematical problems, resulting in a share of the transaction returning to the MiningForGood program. The Kings partnered with MiningStore because of their durable and efficient computers.
“The Sacramento Kings are pioneers in exploring cryptocurrency and its potential impact,” said MiningStore Founder JohnPaul Baric. “We’re thrilled to partner with a forward-thinking organization that looks for ways to create positive change – through technology or sports.”
The MiningForGood grants will support workforce development and technology education programs in Sacramento through a partnership with the Build. Black. Coalition. The Kings recently announced a partnership with Build. Black. to host the Kings and Queens Rise Co-Ed Summer Basketball League, an inter-community youth basketball league that kicked off on June 9.
“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,” said Chet P. Hewitt, President and CEO, Sierra Health Foundation and founding member of the Build. Black. Coalition. “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.”