In association with the global crypto leader MiningStore.com, the Kings installed Ethereum mining equipment at the Golden 1 Center indoor arena in Sacramento, powered by solar panels. The mining-generated profits will be donated to the MiningForGood tech-education and workforce development charity.
In an interview with the local media outlet, The Sacramento Bee, Vivek Ranadive, the team’s principal owner, said that the charity program aims to inspire and empower the future generation of innovators and developers who will leave a significant mark in their communities around the world.
Commenting on the team’s pioneering project, Vivek believes that opportunities become reality when technological advancements allow the world to resolve complex issues.
Sacramento’s black community initiative Build.Black.Coalition. is set to be the first to benefit from the fund.
In an interview with Forbes, Chet Hewitt, CEO of Sierra Health Foundation, and co-founder of the Build.Black. Coalition., stated: “Our innovative partnership with the Sacramento Kings is an example of how technology can both inspire the next generation entrepreneurs and support the development of a 21st-century workforce in Sacramento.”
The Kings are the first sports team to use cryptocurrency for social responsibility causes, following the example set by UNICEF earlier this year. The Australian branch of the organization encouraged ETH mining as a donation option to help refugee children in need. Currently, 19,720 people are donating through the organization’s mining program.
This initiative adds to the King’s reputation as the most tech-savvy NBA club. In early 2014, the basketball club was the first to accept Bitcoin payments.