World’s Fastest Bitcoin Miner Raises $80M

Auradine, a startup specializing in web infrastructure and cryptocurrency mining hardware and software solutions, recently announced the successful completion of a $80 million series B funding round on April 10. The funding round included previous investors Celesta Capital, Mayfield Fund, and Marathon Digital, as well as new investors StepStone Group, Top Tier Capital Partners, MVP Ventures, and Maverick Capital. This round was overbooked and almost matched the funding amount of its previous series A round of $81 million that was completed in May 2023. Auradine reached a milestone of $200 million in bookings.

The exact valuation of the funds raised has not been disclosed. Rajiv Khemani, co-founder and CEO of Auradine, stated that the funds would be utilized to further increase production capacity. He expressed pride in the advancements made by the team in developing innovative, energy-efficient, and secure products for customers. With the additional funding, Auradine plans to accelerate investments in its product roadmaps and expand its production capacity.

Auradine offers a range of products and services, including web infrastructure support for privacy, security, and artificial intelligence (AI) applications. They also have a line of bitcoin miners called “Teraflux” that claim to be the fastest and most energy-efficient in the world. The company’s AI3680 model miners, in particular, are capable of achieving an output of 0 to 375 TH/s with an optimal efficiency of 15 J/TH. To put this into perspective, Bitmain’s Antminer S21 Hydro, known for its speed, has a rating of 335 TH/s. Auradine plans to ship two “Teraflux” ASIC miners in Q2 of 2024. The first is an air-cooled miner named 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 aforementioned AI3680 model.

According to a press release, over 30 leading data centers have already received Teraflux products. Auradine’s success can be attributed to the confidence customers have in their products, as evidenced by strong orders and a promising pipeline. The company’s focus on innovation, energy efficiency, and security has gained recognition in the industry. With the additional funding and growing demand, Auradine aims to meet customer needs and further establish itself as a leader in the web infrastructure and cryptocurrency mining sector.