Bitcoin (BTC): As halving approaches, mining machine maker Auradine raises $80 million

Bitcoin mining ASIC maker Auradine has closed an $80 million Series B funding round. This comes a week before the halving, which will help increase competition among miners.

Auradine raises $80 million

Auradine, an ASIC maker specializing in Bitcoin (BTC) mining, announced on Wednesday that it has raised $80 million. This Series B round brought together investors such as mining giant Marathon Digital, Celesta Capital and Mayfield Fund.

So this fundraising follows the first Series A financing done in 2022, which brought in $81 million.

👉 Learn more about Bitcoin (BTC) mining.

Today, Auradine claims to supply equipment to more than 30 mining companies. The company also has a backlog of $200 million and completed bookings of $80 million. In terms of the performance of its products, its AI3680 should achieve a computing power of 375 TH/s.

Rajiv Khemani, CEO of Auradine, commented on this fundraising, which should in particular allow the company to accelerate research and development:

“We are very proud of the progress our team has made to offer our customers innovative, energy-efficient and safe products (…) With this new funding, we will increase our production capacity and accelerate investment in our product roadmaps. »

👉 Also in News — Bitcoin Halving: Marathon Digital CEO Estimates Tipping Point at $46,000/BTC

Plus, this collection is coming as Bitcoin (BTC) is scheduled to be halved next week. At the time of writing, the asset was trading at $70,800, up 2.7% in 24 hours.

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Source: Press release

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