Sacramento Kings embarks on Ethereum mining

The Sacramento Kings have announced plans to operate the Ethereum last Wednesday. This popular NBA team began mining the second cryptocurrency in terms of market capitalization on a mining platform.

Mining cryptocurrency for a good cause

The basketball team, which started in the cryptocurrency industry in 2014 when it accepted Bitcoin as a payment method, installed cryptocurrency mining machines within their arena.

"Vivek is the great visionary," says Ryan Montoya, Kings technical director, by contacting Yahoo Finance. "It always encourages us to use technology and innovation to improve the experience with fans, and also how we can use them to do good and give back to the community. "

The movement follows the new MiningForGood initiative. In addition, the Ethereum (ETH) generated will serve the cause of Sacramento, starting with the support of the Build Black Coalition. The latter helps African-American residents by providing value-added education on existing technologies and developing the workforce.

A pioneering initiative

It seems that the Kings are the first team in the NBA to focus on mining digital currency. The MiningStore machinery will resolve complex calculations to verify ETH transactions.

Part of the transactions will be invested in MiningForGood , so the Sacramento Kings will increase their experience in the industry. However, substantial sums will be paid to the noble noble for whom they invest.

"We know Blockchain will revolutionize the world," said Montoya.

Ethereum is the second largest cryptocurrency in terms of market capitalization. Its price is around $ 453, up 10.11% at the time of writing this article. Its market capitalization reaches 45.52 billion dollars with a trading volume of 1.61 billion dollars over the last 24 hours.

Although the performances of the Kings have been pretty bad during the last season of the NBA, his initiatives are however questioned. Yet, they are exploring the emerging technology that allows them to make significant donations.

What do you think of the Sacramento Kings operating the Ethereum for a charity project? Tell us in the comments section below.