The firm behind the world’s fastest bitcoin miner has paid another $80M.
Auradin, a technology startup focused on web infrastructure and cryptocurrency mining hardware and software solutions, announced on April 10 that it has successfully completed a $80 million Series B funding round.
Funding was joined by previous investors Celesta Capital, Mayfield Fund and Marathon Digital and new investors Stepstone Group, High Level Capital Partners, MVP Ventures and Maverick Capital. The previous funding round, which closed in May 2023, was led by Celesta Capital and Mayfield.
This Series B round is oversubscribed according to the press release, and the Series A funding is close to $81 million. According to Oradin, the company has reached the $200 million booking milestone. It is not clear exactly by what assessment the funds were collected.
Auradin founder and CEO Rajiv Khemani said in a statement that the funds will be used to further develop the product.
“We are very proud of the progress our team has made in bringing innovative, energy-efficient and safe products to our customers. Our strong orders and pipeline reflect our customers' confidence in us. With this new funding, we will increase our production capacity and accelerate investments in our product roadmap.”
Auradin's products and services for privacy, security and artificial intelligence (AI) applications range from web infrastructure support to “Teraflux” Bitcoin (BTC) miners, which are said to be the “world's fastest and most energy efficient”. He said.
Per company literature, Auradine's AI3680 model miners are “capable of output from 0 to 375 TH/s, with an optimal efficiency of 15 J/TH. For reference, Bitmain's Antminer S21 Hydro, among the fastest miners currently in production, is rated at 335 TH/s.
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Auradine plans to ship two Teraflux ASIC miners in Q2 2024. The first model of the air-cooled miner, named AT2880, is capable of obtaining results from 0 to 260 TH / s, with a good efficiency of 16 J / TH. The second is the aforementioned AI3680. According to the press release, more than 30 “major data center scales” have adopted Teraflux products so far.
