Auradine, a Silicon Valley-based startup that focuses on tools for AI knowledge facilities and Bitcoin mining, has announced a increase of $153 million in a Collection C funding spherical. The brand new capital will go to growing the corporate’s product suite of infrastructure for AI and blockchain know-how.
The Collection C spherical was led by StepStone Group and included participation from Maverick Silicon, Premji Make investments, Samsung Catalyst Fund, Qualcomm Ventures, and others. Auradine mentioned the spherical was oversubscribed however didn’t disclose by how a lot or at what valuation the funds had been raised.
Together with the funding spherical, Auradine introduced the launch of AuraLinks AI — its new enterprise group devoted to networking options concentrating on knowledge facilities’ vitality and cooling prices.
According to Goldman Sachs, vitality demand on account of AI knowledge facilities is anticipated to rise 165% by 2030. Constructing a small-scale AI knowledge heart can cost $10 million to $50 million, whereas large-scale AI knowledge facilities can price tons of of tens of millions.
Auradine designs and manufactures application-specific built-in circuits (ASICs) and associated methods for Bitcoin mining. The corporate sees a strategic opportunity within the present US-China commerce tensions and US President Trump’s push to spice up home manufacturing. Amongst its major rivals is the Chinese language-based agency Bitmain, which reportedly holds a 90% market share within the Bitcoin manufacturing sector.
Associated: How to mine Bitcoin: A beginner’s guide to mining BTC
Crypto mining market to develop at CAGR 13% till 2034
According to Priority Analysis, the cryptocurrency mining market was valued at $2.5 billion in 2024 and is anticipated to have a compound annual development charge of 13% till 2034. If that prediction is correct, the mining market will attain a dimension of $8.2 billion by 2034.
The rising Bitcoin hashrate, coupled with the growing vitality calls for following every halving, is intensifying competitors within the mining sector. In consequence, the push for higher effectivity and superior know-how could create openings for brand new gamers to realize market share.
Trump’s twin wishes to make the US “the crypto capital of the planet” and produce manufacturing on-shore may additionally play a job. The US accounts for over 40% of the Bitcoin (BTC) hashrate, however US-based miners nonetheless rely closely on China-manufactured rigs.
Auradine’s $80 million Collection B spherical, like its Collection C, was oversubscribed. In whole, the corporate has raised over $300 million throughout all funding rounds.
Journal: Asia Express: Bitcoin miners steamrolled after electricity thefts, exchange ‘closure’ scam
