Auradine, a tech startup that specializes in web infrastructure and cryptocurrency mining hardware and software solutions, recently announced the successful completion of its series B funding round. This funding round, which took place on April 10, raised a total of $80 million.
The funding was contributed by both previous investors, including Celesta Capital, Mayfield Fund, and Marathon Digital, as well as new investors such as StepStone Group, Top Tier Capital Partners, MVP Ventures, and Maverick Capital. It is worth noting that Celesta Capital and Mayfield led the previous funding round in May 2023.
According to a press release, the series B round was overbooked and nearly matched the amount raised in the series A funding round, which was $81 million. Additionally, Auradine announced that it has reached a significant milestone of $200 million in bookings. However, the exact valuation of the funds raised has not been disclosed.
Rajiv Khemani, the co-founder and CEO of Auradine, expressed that the funds will be utilized to further increase production. Auradine offers a range of products and services that support web infrastructure, privacy, security, and artificial intelligence (AI) applications. One of its notable offerings is the “Teraflux” line of bitcoin miners, which is claimed to be the fastest and most energy-efficient in the world.
According to the company, its AI3680 model miners can achieve an output of 0 to 375 TH/s with an optimal efficiency of 15 J/TH. This surpasses the performance of Bitmain’s Antminer S21 Hydro, one of the fastest miners currently available, which is rated at 335 TH/s.
Auradine has plans to ship two “Teraflux” ASIC miners in the second quarter of 2024. The first model, named AT2880, is an air-cooled miner that can achieve an output of 0 to 260 TH/s with an optimal efficiency of 16 J/TH. The second model is the AI3680, as mentioned earlier. The press release also revealed that over 30 leading data-center-scale miners have already received Teraflux products.
Overall, Auradine’s successful series B funding round and significant bookings milestone indicate the company’s strong position in the web infrastructure and cryptocurrency mining industry. With its innovative products and services, the company is poised to make further advancements in the field.