Jun 29, 2018 by Kyle

Cryptocurrency mining is far from being something new, as more and more people – including organizations – are starting this. And by organizations, we also mean professional sports teams.

According to The Bitcoinist, the Sacramento Kings are actually the first team to start mining Ethereum, but their purpose is a noble one: donating everything to charity.

The NBA team announced their charitable program, MiningForGood, consisting in installing cryptocurrency mining equipment in the Golden 1 Center, which happens to be the first Tier 4 data center ever built inside a professional sports team’s arena.

Supporting local causes

The program is actually part of a multi-year scholarship program aiming to support various Sacramento-based causes, mostly focused on helping the Black communities in the city.

“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,” the Sacramento Kings said on their official website.

The program is also supported by Vivek Randadivé, the team’s chairman and owner, who also happens to be a supporter of innovative solutions, like cryptocurrency mining.

“Opportunity begins when technology allows the world to find innovative solutions to complex problems,” he declared. “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.”

Top notch equipment only

The Sacramento Kings will rely on Imperium equipment, which will mine Ethereum, currently the second coin on the market, in terms of market cap. This will make them pioneers in exploring this technology, among sports teams. They are also the first professional team to accept Bitcoin.

“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,” said Chet P. Hewitt, President and CEO of the Sierra Health Foundation.

Obviously, we’re looking forward to seeing other teams following their example, for at least similar purposes.