The Sacramento Kings Will Mine Ethereum to Fund a Scholarship Program

The Sacramento Kings is making its name in the cryptocurrency mining industry by being the first team in the NBA to operate a crypto mining rig.

The Kings recently inked a partnership with MiningStore to purchase its Imperium machines. Each mining rig costs $4,950 and has the ability to mine ethereum. The MiningStore is set to install the rigs in Golden 1 Center, the team’s home court.

Announced on June 2018, the proceeds from mining will fund a multiyear scholarship program that will be called “MiningForGood”. It is said to help support workforce development and technology education programs in its city.

“Opportunity begins when technology allows the world to find innovative solutions to complex problems, … Through MiningForGood, we aim to inspire the next generation of tinkerers and thinkers to create change in their own community and around the globe.” – Mr. Vivek Ranadive, Principal Owner, Sacramento Kings

The initial of partner this program is “Build. Black. Coalition” that aims to support a transformational change for Black communities in Sacramento. The team is currently doing a youth basketball program with the coalition that started on June 9^th.

Source: Sacbee