On April 15th, Esports Entertainment Group announced that ggCircuit, a progressive gaming services company that helps esports centers around the globe successfully run their businesses, is planning on launching a new product next month called ggFuze, a distributed computing platform. This product will first be used in the beta version of a custom-built crypto mining application that will be utilized by a pilot group of LAN Centers.
“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,” said Zack Johnson, CEO of ggCircuit. “This is a great example of the synergies between ggCircuit, Helix, and Genji and I am excited about these companies coming together under the EEG banner.”
The crypto mining application allows center owners to use idle computing power to passively mine for a type of cryptocurrency known as Ethereum. The software algorithm will automatically evaluate the hardware of the computer and optimize the mining of coins so long as certain price parameters are met and the PC is not in use for gaming.
ggCircuit is a B2B software company that provides cloud-based management for LAN centers, which are a tournament platform. Helix Esports owns five esports centers that deliver world-class customer service, esports programming, and gaming infrastructure. EEG previously agreed to acquire ggCircuit and Helix in a combined transaction worth roughly $43 million.
(All information was provided by Street Insider)