Solomon Samuel 
Auradine announced the completion of an $80 million Series B investment round with new and existing investors contributing to the funding.
A technology business known as Auradine, which specializes in online infrastructure as well as hardware and software solutions for cryptocurrency mining, made the announcement on April 10 that it has successfully completed a Series B investment round with a total value of $80 million.
Auradine Gets Massive Investment
New investors StepStone Group, Top Tier Capital Partners, MVP Ventures, and Maverick Capital, along with previous investors Celesta Capital, Mayfield Fund, and Marathon Digital, also contributed to the funding.
In the last investment round, which was concluded in May 2023, Celesta Capital and Mayfield were the primary investors. According to a press release, this Series B round was overbooked, and it came very close to matching the amount of $81 million that was raised in the Series A investment round.
In addition, the company reportedly surpassed a significant milestone of $200 million in bookings, as stated by Auradine. The exact valuation at which the company raised the cash remains unclear.
The co-founder and chief executive officer of Auradine, Rajiv Khemani, stated in a statement that the funds would be used to grow production even further.
“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.”
According to reports, Auradine offers a wide range of applications, from online infrastructure support for privacy, security, and artificial intelligence (AI) applications to its “Teraflux” brand of Bitcoin miners, which are reputed to be the “world’s fastest and most energy efficient.
“The firm’s documentation states that Auradine’s AI3680 model miners can achieve an output of 0 to 375 TH/s, with an optimal efficiency of 15 J/TH.
In order to provide a point of reference, the Antminer S21 Hydro from Bitmain, which is currently among the fastest miners in production, has a rating of 335 TH/s.
In the second quarter of 2024, Auradine intends to supply two “Teraflux” ASIC miners. Auradine has assigned the model number AT2880 to the first air-cooled miner.
It has the capacity to produce results ranging from 0 to 260 TH/s and has an efficiency of 16 J/TH at its highest point. The second product is the AI3680, as previously mentioned.
More than thirty “leading data center-scale miners” have reportedly received Teraflux products up to this point, as stated in the released press statement.