In an announcement on Wednesday, the Sacramento Kings declared that they are currently mining Ethereum. By doing this, they become the first sports team to enter the crypto space. They are also introducing crypto to sport fans and are giving it to a local group that supports black communities for the selling and buying of ether.
Sacramento Kings, the American basketball team purportedly began mining ether three weeks ago utilizing Nvidia mining rigs. Vivek Ranadive, the owner of the NBA group is also a software entrepreneur and the founder of Tibco. The magazine Fast Company praised The Sacramento Kings in their annual ranking of the world’s Most Innovative Companies in Sports. The Kings became the first NBA team to accept bitcoin as a payment method for its season ticket and goods store.
Vivek Ranadive was cited saying that the team is a major fanatic of Ethereum, and needed to do something to give back to the local community “It was obvious to us,” he said, “let’s start mining cryptocurrency.” Whatever will be the profits from the mining would go to a local group that backs black communities as part of a charity program.
Home to the Sacramento Kings, The Golden 1 Center, an indoor arena has a solar panelled rooftop that can produce up to 1,2 megawatts. The installation of solar power was part of the Sacramento Kings ownership’s goal to have the nation’s most technologically advanced entertainment center.
The business executive of the tech-savvy NBA team said that the mining project has no immediate association with basketball at the moment, but they are certain that when players will come to Sacramento hey will know they can be acquainted with new innovations and tech companies.
GMO Coin, a Japanese cryptocurrency exchange company earlier this week introduced the world of sports in Japan to cryptocurrency by giving sponsorship to the Chiba Lotte Marines, a local baseball team.
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