Sacramento Kings are to become the first sports team in the world to mine cryptocurrency at their home arena.
The NBA team will deploy MiningStore ‘Imperium’ model machines to mine Ethereum cryptocurrency at the Golden 1 Center. The project is powered by the arena’s advanced data center and tech infrastructure, which seems to be guarded by stormtroopers according to images released by the Kings.
The Kings will use the cryptocurrency to fund the MiningForGood programme, a multi-year scholarship project to support Sacramento-based causes.
“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.”
Ethereum is a decentralised platform for smart contracts that went live in 2015. The digital token of Ethereum is ether. Like bitcoin, ether runs on a blockchain, a peer-to-peer, public, immutable ledger that records all ether transactions.
The mining machines will verify other coin user transactions by solving complex mathematical problems, resulting in a share of the transaction returning to the MiningForGood programme.
“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 organisation that looks for ways to create positive change – through technology or sports.”
IMAGES: Sacramento Kings
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