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.
Buy cryptocurrencies on eToro
Source: Press release
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This site may contain investment-related assets, products or services. Some links in this article may be affiliate. This means that if you purchase a product or register on a site from this article, our partner will pay us a commission. This allows us to continue to offer you original and useful content. Nothing will happen to you and you can even get a bonus using our links.
Investing in cryptocurrencies is risky. Cryptoast is not responsible for the quality of the products or services presented on this site and cannot be held responsible, directly or indirectly, for any damages or losses incurred after using the goods or services highlighted in this article. Investments related to cryptoassets are inherently risky, readers should do their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
recommendations of the AMF. There is no guaranteed high return, a product with high return potential involves high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose some of these savings. Do not invest unless you are prepared to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notice pages.