“Crypto mining during idle machine time is a request that many of our customers have been asking for and we are excited to be able to offer it as the launch application of our distributed computing product ggFuze,” ggCircuit CEO Zack Johnon said. Why It’s Important: Esports Entertainment is acquiring ggCircuit and Helix for $43 million in a deal expected to close this quarter. Thursdy’s announcement could strengthen the opportunity for one of the newest Esports Entertainment portfolio companies. Over 1,000 centers are on the ggCircuit network. The ability to earn extra income through the ggCircuit offering could help the company land additional partners in the gaming community.
The new platform is a collaboration between ggCircuit, Helix and Genji Analytics showing the synergies of the Esports Entertainment brands together. The company’s software algorithm will automatically evaluate the hardware of the gaming PC and mine when it’s not in use for gaming.
Related Link: Esports Entertainment Pushes Further Into Sports Betting, iGaming With Acquisition A custom-built crypto mining application will be the first app launched with the product. The platform will allow center owners to utilize idle computing power to passively mine for Ethereum (CRYPTO: ETH) with the click of a button.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights
reserved. GMBL Price Action: Shares of Esports Entertainment lost 4.53% Wednesday, closing at $12.64. The stock was up 0.79% at $12.74 premarket Thursday.
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