Sacramento Kings Will Mine Cryptocurrency To Support Needy Area Causes

June 28, 2018 3:06 pm Published by

The National Basketball Association’s (NBA) Sacramento Kings have made no secret of their history experimenting with cutting-edge technology, but now they’re using cryptocurrency to better their community, Engadget reported Thursday.

The team plans to mine Ethereum in an arena-based data center as part of a new MiningForGood initiative, the report said.

Sacramento-based causes will be the beneficiary of the cryptocurrency they generate, Engadget reported, starting with the Build Black Coalition helping local black residents with technology education and workforce development. The Kings will be the first team anywhere to mine digital money.

The team will use MiningStore-made crypto machines to solve complex math to verify coin transactions, the report said, sending “a share” of those transactions to MiningForGood. They’re not just handing over all the cryptocurrency they make, then, but they could still be donating significant sums considering one Etherium coin is worth about $436 based on Thursday’s totals.

The only real danger is a steep drop in Ethereum’s value might hurt the project, Engadget reported., Jack Durschlag

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