Well, we all know that cryptocurrency craze reached new levels, but who had expected it to reach NBA? However, the Sacramento Kings, the renowned NBA team, is the first sports team in the world to mine Ethereum (ETH). All that is made possible thanks to the new partnership Sacramento Kings signed with a well-known hosting and cryptocurrency mining firm MiningStore.com.
It might come as a surprise for many, but is not the first time this NBA team deals with cryptocurrency. Back in 2014, Sacramento Kings accepted Bitcoin (BTC), becoming the first sports team in the whole world to accept cryptocurrency as payments. Even more, they own the Golden 1 Center, a 100% solar-powered sports complex, located in Sacramento, California, and which also houses a tier-4 data center.
According to the team’s management, all this technical approach is meant to deliver the ultimate sports experience for the fans, by combining Bitcoin (BTC) payments, drones, AR/VR, and more.
Sacramento Kings NBA team is the first professional sports team in the world to mine Ethereum (ETH) for charity purposes
As if all that weren’t enough, Sacramento Kings thought to plunge way deep into the cryptocurrency world and is now the first sports team in the world to mine Ethereum (ETH). But, the most of the funds they’ll raise will be donated. Ryan Montoya, the Sacramento Kings’ CTO, is responsible for this project he and his co-workers entitled Mining For Good.
Mining For Good project will mine Ethereum (ETH) and the majority of the funds it’ll raise will go to the Build Black community project dedicated to helping local youths. On the other hand, the remaining amounts of Ethereum (ETH) will be held or invested by the Sacramento Kings NBA team.
“Vivek Ranadive [Kings Owner and Chairman] asked, ‘What can we do with cryptocurrency to give back to the community?’ It was obvious to us – Let’s start mining cryptocurrency. Let’s mine cryptocurrency and give the proceeds back to groups that could use a little extra help. And we are super fans of Ethereum (ETH),” explained Ryan Montoya how did Sacramento Kings NBA team become the first to mine Ethereum (ETH).