Home
News
Auradine, a leading tech startup in web infrastructure and cryptocurrency mining solutions, just wrapped up its Series B funding round with a substantial $80 Million. The round was oversubscribed, with both existing and new investors showing confidence in Auradine’s innovative offerings.
Investor Participation and Milestone Achievement
The Series B funding round attracted previous investors like Celesta Capital, Mayfield Fund, and Marathon Digital, alongside new investors such as StepStone Group, Top Tier Capital Partners, MVP Ventures, and Maverick Capital.
This round nearly matched Auradine’s $81 Million Series A funding, which Celesta Capital and Mayfield led in May 2023. Apart from the triumphant investment round, Auradine declared that it had accomplished a noteworthy benchmark of $200 Million in reservations, reinforcing its standing in the industry.
Increasing Output & Quickening The Development Of New Products
Co-founder and CEO of Auradine Rajiv Khemani was delighted with the team’s achievements in providing clients with creative, secure, and energy-efficient goods.
He emphasized that the solid orders and pipeline reflect customers’ confidence in Auradine’s offerings. Auradine intends to accelerate investments in its product roadmaps and increase production capacity using the recently received funding.
By making this calculated strategic decision, the business can maintain ts competitive advantage in the market and respond to the growing need for creative solutions.
Auradine’s Comprehensive Product Portfolio
Auradine offers various products and services, including web infrastructure support for privacy, security, and artificial intelligence (AI) applications. It also has its “Teraflux” line of Bitcoin (BTC) miners, which are touted as the world’s fastest and most energy-efficient.
Auradine’s AI3680 model miners can reach an output of 0 to 375 TH/s and boast an impressive efficiency of 15 J/TH. This outperforms some of the fastest miners on the market today, like Bitmain’s Antminer S21 Hydro, rated at 335 TH/s.
Upcoming Teraflux ASIC Miners
Auradine is set to ship two “Teraflux” ASIC miners in Q2 2024. 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 is the AI3680, as mentioned earlier.
The press release shows over 30 leading data-center-scale miners have already received Teraflux products. This showcases the industry’s strong interest in Auradine’s innovative mining solutions.
Conclusion
Auradine’s Series B funding round raised $80 Million, highlighting investor confidence in its web infrastructure and cryptocurrency mining solutions. With total funding now over $160 Million and $200 Million in bookings, Auradine is set for accelerated growth.
The funds will boost production capacity and product development, meeting rising demand for its energy-efficient solutions. The upcoming release of its Teraflux ASIC miners in Q2 2024 underscores Auradine’s leading role in the crypto mining sector.
Offering both web infrastructure support and high-performance Bitcoin miners, Auradine is positioned to make a significant impact and cement its status as a key player in the industry.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
