Auradine Secures $153M in Series C Funding, Expands into AI Infrastructure

Auradine, a prominent manufacturer of bitcoin miners, has successfully secured $153 million in its Series C funding round. This significant investment comes as the company ventures into the AI infrastructure sector, marking a strategic expansion of its business operations. The funding round, which was oversubscribed by over 22%, initially aimed to raise $125 million but exceeded expectations due to strong investor interest. The round was led by StepStone Group, with contributions from Maverick Silicon, Premji Invest, Samsung Catalyst Fund, Qualcomm Ventures, Mayfield, MARA Holdings, GSBackers, and other existing investors.

The Series C funding round comprises both equity and debt, with equity making up the majority at $138 million and an additional $15 million in venture debt. This infusion of capital brings Auradine's total funding to over $300 million. While the company's valuation remains undisclosed, Auradine's CEO, Rajiv Khemani, expressed confidence that the company will achieve EBITDA positivity within the next few quarters. EBITDA, or earnings before interest, taxes, depreciation, and amortization, is a key metric for assessing a company's operational profitability.

Auradine, founded in 2022 and headquartered in California, specializes in manufacturing bitcoin miners under the Teraflux brand. The company positions itself as the sole U.S.-based firm producing American-engineered bitcoin miners, directly competing with Chinese hardware manufacturers. Auradine's machines are utilized by over 40 major data center operators, including Marathon Digital, highlighting the company's significant market presence. With an annualized revenue run rate exceeding $150 million from its bitcoin miner manufacturing business, Auradine boasts a robust and growing order pipeline.

In addition to its core bitcoin mining operations, Auradine has launched AuraLinks AI, a division dedicated to developing networking infrastructure for AI data centers. The company's vision is to create innovative open data center networking solutions tailored for the AI era. Although currently in the development phase, Auradine plans to unveil its AI products later this year. This strategic move into AI infrastructure aligns with the company's goal of leveraging its expertise in leading-edge silicon, thermal cooling solutions, and energy load balancing across both bitcoin and AI data centers.

Previously, Auradine incubated Aurascape AI, an AI cybersecurity tools startup, which has since spun out as an independent entity with its own products and strong market momentum. Despite its foray into AI, bitcoin mining remains Auradine's primary business focus. The company currently employs over 100 people and plans to expand its workforce, particularly in engineering, to support its growth initiatives.