Bitmain Technologies unit, AntPool, which is engaged in bitcoin mining, will invest about $500 million in Texas as part of its expansion in the United States. For this purpose, the company is trying to push itself through a sponsorship route by roping in Houston Rockets basketball team.

Signed As Major Sponsor

The bitcoin miner has struck an agreement for being a major sponsor of the Rockets in the National Basketball Association’s (NBA) upcoming 2017-18 season, South China Morning Post reported. In a post on Facebook, AntPool’s head for overseas operations, Li Haijiao, said,

“As the cryptocurrency industry around the globe continues to evolve and develop, it is going to be more and more important for companies like AntPool to lead the conversation and conversion of consumers to adopt and understand digital currencies.”

The company indicated that it would arrange an exhibition within the Toyota Center, which is a home arena for the Rockets’ in Houston, from January 19, 2019. However, there is no clarity on the feature of Bitmain Technologies and AntPool during the arena’s courtside billboards. Incidentally, it is a key factory since there is an estimated online viewership of 900 million in China during the live broadcasts games involving Rockets’. The company indicated that it opted to sponsor since it was the top team in China. The team’s popularity gained momentum after it included Yao Ming, a professional player, as the first pick during the 2002 NBA draft.

Retirement

Though he retired on July 20, 2011, he played center until the 2010-11 season for the Rockets, which is being led by James Harden now. In any case, this makes a significant one for the Beijing-based company after a deal was signed early this year between the American firm CashBet and Arsenal, a renowned Premier League club.

The latest effort is in line with the company’s announcement in August that its first priority was Texas for expansion in the United States. AntPool expects to commence its activities from next year.

Sports adopting cryptocurrency

It seems like various sports industries started to implement cryptocurrency related solutions recently. Here are some cool stories we covered lately regarding sports and cryptocureency:

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