Sacramento Kings, an American basketball team, is set to become probably the first professional sports team to foray into cryptocurrency mining and use the funds for charity.
The Kings will initially use the funds for the charity program "MiningForGood" to lay the foundation to establish a multi-year scholarship program to support Sacramento-based causes starting with the Build. Black. Coalition, which is a group of Sacramento community leaders organized to support transformational change for Black communities.
The MiningForGood funds will also support workforce development and technology education programs in Sacramento.
The Kings will partner global cryptocurrency leader MiningStore.com to install their advanced cryptocurrency mining machines in the only Tier 4 data center in a professional sports arena. It will be installed at the advanced data center and tech infrastructure at Golden 1 Center.
The Kings will install MiningStore's "Imperium" model machines that will mine Ethereum cryptocurrency, a public, open-sourced Blockchain-based platform.
"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," said Sacramento Kings Owner and Chairman Vivek Ranadivé.
The Sacramento Kings, one of the most tech-savvy ownership groups in the NBA, had in early 2014 become the first sports team in the world to accept Bitcoin. It is also home to a 100% solar-powered sports arena.
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