Firm behind world’s fastest Bitcoin miner raises another $80M

On April 10, Auradine, a tech company focusing on web structure and cryptocurrency mining technology, completed a $80 million Series B investment round successfully.

In May 2023, Celesta Capital and Mayfield Fund spearheaded the funding round for the company, with participation from Marathon Digital and earlier investors. More investors, including StepStone Group, Top Tier Capital Partners, MVP Ventures, and Maverick Capital, have now hopped on board for this new investment phase.

In a recent press announcement, it was revealed that the Series B financing round surpassed its intended limit and came close to matching the $81 million raised in Series A. Additionally, Auradine disclosed hitting a significant sales milestone of $200 million. The exact valuation at which the funds were obtained remains undisclosed.

According to Rajiv Khemani, the co-founder and CEO of Auradine, these newly acquired funds will allow for an expansion of our current production capabilities.

“We are very proud of the advancements that our team has made in bringing innovative, energy-efficient, and secure products to our customers. The strong orders and pipeline reflect the confidence our customers have in us. With this new funding, we will ramp up production capacity and accelerate investments in our product roadmaps.”

Auradine’s offerings are said to encompass a wide range, from web infrastructure services ensuring privacy, security, and artificial intelligence (AI), to their renowned “Teraflux” series of bitcoin miners, claimed to be the fastest and most energy-efficient in the world.

According to the company’s literature, Auradine’s AI3680 mining model can produce an output ranging from 0 to 375 terahashes per second (TH/s), with a peak efficiency of 15 joules per terahash (J/TH). For comparison, Bitmain’s Antminer S21 Hydro miner, one of the fastest models available today, can handle 335 TH/s.

Auradine intends to deliver two “Teraflux” ASIC miners during the second quarter of 2024. The initial model, named AT2880, is air-cooled and boasts a mining capacity between 0 to 260 terahashes per second (TH/s). Its optimal efficiency stands at 16 joules per terahash-second (J/TH). The second miner is the previously mentioned AI3680. As stated in the press release, more than thirty major data center miners have already obtained Teraflux products.

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2024-04-10 20:39