Auradine Amasses $80 Million in Series B Funding for Boosting Crypto Mining & Infrastructure Solutions
Summary:
Auradine, a tech startup specializing in web infrastructure and cryptocurrency mining solutions, has concluded a series B funding round, acquiring $80 million. This capital injection involved both new and past supporters, including Celesta Capital, Mayfield Fund, StepStone Group, and Maverick Capital, among others. The raised funds will boost production and investment in product roadmaps, asserts Rajiv Khemani, Auradine's CEO. The company is planning to release two new "Teraflux" ASIC miners in the second quarter of 2024.
Auradine, a tech firm known for its high-end web infrastructure and digital currency mining solutions, has successfully completed a series B financing round, amassing $80 million on 10th April. Previous investors Celesta Capital, Mayfield Fund, and Marathon Digital, along with new entrants StepStone Group, Top Tier Capital Partners, MVP Ventures, and Maverick Capital, participated in this round. The previous investment round, which took place in May 2023, saw Celesta Capital and Mayfield as the key investors. Based on a press release, the recent fund-raising round was oversubscribed and was nearly on par with its series A funding worth $81 million. Auradine also highlighted reaching a $200 million booking milestone, although the exact valuation at which the funds were raised remains unknown. Auradine’s CEO and co-founder, Rajiv Khemani, stated that the recent funding would be channeled towards scaling up production and shared, “We take immense pride in our team's strides in creating novel, energy-efficient, and secure products. Our strong orders and pipeline reflect our customers’ trust in us. Thanks to this new funding, we will augment our production capacity and expedite our investments in our product roadmaps.” Auradine offers a broad spectrum of products and services, spanning from web infrastructure conveniences for privacy, security, and Artificial Intelligence (AI) to its “Teraflux” range of bitcoin miners, believed to be the “world’s fastest and most energy efficient.” Auradine’s promotional material touts its AI3680 model to deliver an output ranging from 0 to 375 TH/s, with an efficiency of 15 J/TH. To cite a comparison, Bitmain's Antminer S21 Hydro—one of the swiftest miners available—operates at a 335 TH/s capacity. Moreover, Auradine has plans to roll out two “Teraflux” ASIC miners in the second quarter of 2024. The first one is an air-cooled miner known as model AT2880 with an output capability of 0 to 260 TH/s and an optimal efficiency of 16 J/TH. The second one is the fore-presented AI3680. As disclosed in the press release, over thirty “top data-center-scale miners” have so far received Teraflux products.
Published At
4/10/2024 8:32:20 PM
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