The Sacramento Kings basketball team has teamed up with a crypto mining hardware firm to install mining machines in an indoor arena, with the crypto earnings funding a scholarship program, local news outlet The Sacramento Bee reported yesterday, June 28.
The Kings have partnered with company MiningStore for the installation of Ethereum.
All crypto proceeds will go to multi-year scholarship program MiningForGood, which the Sacramento Bee describes as a charity for tech education and workforce development in Sacramento.
The first recipient of funding from the Kings will reportedly be an initiative for black communities in Sacramento called "Build. Black. Coalition."
"Opportunity begins when technology allows the world to find innovative solutions to complex problems."
Mining Ethereum for charitable causes has already been tried out around the world.
In February, UNICEF Australia asked PC gamers to mine ETH in their downtime as a donation to Syrian children, and Ethereum co-founder Vitalik Buterin donated $2.4 million in ETH to fund anti-aging research.
The Sacramento Bee notes that the Kings began accepting Bitcoin for their team store in 2014 after partnering with BitPay.
Basketball Team Sacramento Kings Mine Ethereum to Fund Tech Education Scholarships
Udgivet den Jun 29, 2018
by Cointele | Udgivet den Coinage
Coinage
Nævnt i denne artikel
Seneste nyheder
Se alt
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.