Auradine, a tech startup specializing in web infrastructure and cryptocurrency mining hardware and software solutions, has announced the successful completion of a series B funding round valued at $80 million on April 10.
The funding round saw participation from previous investors Celesta Capital, Mayfield Fund, and Marathon Digital, as well as new investors StepStone Group, Top Tier Capital Partners, MVP Ventures, and Maverick Capital. The company’s previous funding round, which took place in May 2023, was led by Celesta Capital and Mayfield.
According to a press release, the series B round was oversubscribed and came close to matching the company’s series A funding of $81 million. Auradine also achieved a significant milestone of $200 million in bookings, although the exact valuation of the funds raised remains unclear.
Rajiv Khemani, co-founder and CEO of Auradine, stated that the funds will be used to further increase production. The company offers a wide range of products and services, including web infrastructure support for privacy, security, and artificial intelligence (AI) applications. Its “Teraflux” line of bitcoin miners is reputed to be the world’s fastest and most energy-efficient.
Auradine’s AI3680 model miners are capable of achieving an output of 0 to 375 TH/s, with an optimal efficiency of 15 J/TH, according to the company’s literature. For comparison, Bitmain’s Antminer S21 Hydro, one of the fastest miners currently available, has a rating of 335 TH/s.
In the second quarter of 2024, Auradine plans to ship two “Teraflux” ASIC miners. The first is an air-cooled miner called model AT2880, which can achieve an output of 0 to 260 TH/s with an optimal efficiency of 16 J/TH. The second miner is the aforementioned AI3680. The press release also states that over 30 leading data-center-scale miners have already received Teraflux products.