Sports in Crypto Space: NBA Team has Started Mining Ethereum

Sports in Crypto Space: NBA Team has Started Mining Ethereum

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Sacramento Kings, an American basketball team reportedly begun the mining of Ether 3 weeks back with the help of Nvidia mining rigs.

Vivek Ranadive, the proprietor of the NBA team, a founder of Tibco, and a computer software entrepreneur, is very impressed with his team after being praised by the magazine Fast Company's yearly ranking of the global's most innovative companies in sports.

In 2014, Sacramento Kings became the first NBA team ever to allow bitcoin as one of the payment methods at its goods store and when purchasing its season tickets.

Vivek said that his team was number one fan of Ethereum, and needed to do something different in order to give back to the local community. Some portion of the profit collected from the mining would directly go to a local group which supports the large group of black communities as part of a charity program.

Using solar energy cryptomining

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Installation of solar panels on the top of the roof at Golden 1 Center, an indoor arena that is a home to the Sacramento Kings was one of the aims to own the most modern technologically entertainment center in the whole country. The solar system generates up to 1.2 megawatts.

The tech-savvy NBA team's business officials noted that the bitcoin mining operation currently has no major direct association with the basketball though they are optimistic that when basketball players come to the Kings, they can be introduced to tech companies that have new technologies.

A Japanese crypto exchange, GMO Coin, introduced sports in the country to cryptocurrency by sponsoring and supporting a local baseball team known as Chiba Lotte Marines earlier this week.

Toshihiro Sorimachi, a spokesperson of the Japanese baseball team believes that cryptocurrency will be more acquainted to their fans. However, there is no player in the team that is currently possessing cryptocurrencies, but fortunately enough, the majority are interested in the virtual currency technology.