Auradine, a web infrastructure startup and Bitcoin mining machine manufacturer, has secured $80 million in a Series B funding round as it prepares for the upcoming Bitcoin halving event and delivery of its Teraflux Bitcoin mining machine.
The funding round, described as “oversubscribed,” attracted participation from a variety of investors, including StepStone Group, Top Tier Capital Partners, MVP Ventures, Maverick Capital, Celesta Capital, Mayfield Fund and Marathon Digital. According to Auradine, the round exceeded its initial target of $70 million due to growing investor interest.
CEO and co-founder Rajiv Khemani said the Series B round consisted of $60 million in equity and $20 million in debt, mirroring the structure of Auradine’s previous Series A round (which totaled $81 million). no see. Khemani refrained from commenting on the company’s current valuation, but expressed confidence in Auradine’s trajectory to potentially reach a $1 billion valuation in the future.
Auradine’s Series B funding comes ahead of the Bitcoin halving event expected to occur next week. Khemani noted that the company has already secured $80 million in bookings and boasts an order pipeline exceeding $200 million, driven by strong demand for its Teraflux Bitcoin miners.
With its focus on energy efficiency and demand response, Auradine expects its products, particularly its EnergyTune feature and energy-efficient silicon, to be well positioned for post-halving market dynamics.
Founded in 2022 and headquartered in California, Auradine launched the Teraflux Bitcoin miner last November. The company has since supplied its equipment to more than 30 prominent data center scale mining companies. In particular, Auradine emphasizes the importance of designing Bitcoin miners in the United States to ensure distributed supply and strengthen national security amidst geopolitical challenges.
While Bitcoin miners constitute Auradine’s first product line, the company is exploring opportunities to expand into other areas, including blockchain and artificial intelligence. Khemani said Auradine is actively developing additional product lines within these areas with the aim of providing innovative solutions soon.
Auradine, which currently employs approximately 75 people, plans to expand its workforce, particularly in research and development and supply chain operations, to support its growth initiatives.
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