The Sacramento Kings, an American professional basketball team based in California, recently announced that it would start mining cryptocurrency through a partnership with MiningStore.com, a leading provider of crypto mining hardware. The NBA team is known for its involvement with innovative technology as it uses a solar-powered arena to host its games. In 2014, the Sacramento Kings started accepting bitcoin, and were the first sports organization to officially accept the cryptocurrency.
Ryan Montoya, the team’s chief technology officer, stated, “We have always pushed the envelope when it comes to innovation.” He added that the Kings were the first NBA team to start using Twitter, drone technology, and Google Glass for their home games. Montoya also noted that by launching their Golden 1 Center, NBA watchers were able to see how the Kings leveraged the latest technology to run their sporting operations.
Using Blockchain Technology For Business Operations
Sacramento Kings owner and chairman Vivek Ranadive stated that he had been focusing on helping his sports team use bitcoin since the last couple of years, and would now like the company to effectively use blockchain technology. He believes that leveraging blockchain will make the organization’s business processes more efficient, as it is already doing for various other industries.
Through their partnership with MiningStore.com, the Kings plan to install crypto mining equipment at their Golden 1 Center sports complex, which runs entirely on solar power. Montaya pointed out that their arena is a Tier-4 data center, “something similar to what you would expect at Google and Amazon.”
The NBA team will reportedly be mining Ethereum’s ETH cryptocurrency using MiningStore’s Imperium model hardware. Cryptocurrency earned from mining will go toward further growing and developing the MiningForGood initiative, a scholarship fund for technology-related education programs and career help services.