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The Kings are the world's first team to mine cryptocurrency. Here's why they're doing it

The Sacramento Kings have accomplished a new record, but it's not in points, assists or steals. The Kings are officially the first team in the league – and in the world – to mine digital currency.

The Kings have teamed with cryptocurrency group MiningStore to install mining machines in Golden 1 Center, which the team says houses the world's most advanced technology infrastructure. The mining will fund a multiyear scholarship program called MiningForGood, according to an announcement by the team Wednesday.

Through grants, the partnership aims to support workforce development and technology education programs in Sacramento.