Auradine, a startup specializing in equipment for data centers and Bitcoin mining, has announced the completion of its Series C funding round, raising $153 million.
Details of the Funding Round
The Series C round was led by StepStone Group and included participation from Maverick Silicon, Premji Invest, Samsung Catalyst Fund, Qualcomm Ventures, and others. Auradine noted that the round was oversubscribed but did not disclose the amount or valuation at which the funds were raised.
New Business Directions for Auradine
Along with the funding announcement, Auradine introduced its new business group, AuraLinks AI, focused on providing networking solutions to reduce energy and cooling costs in data centers.
Market Prospects and Competition
According to Goldman Sachs, energy demand from AI data centers is expected to rise 165% by 2030. Auradine designs and manufactures application-specific integrated circuits (ASICs) for Bitcoin mining, seeing strategic opportunities amid current US-China trade tensions. Its key competitor is Bitmain, a Chinese company that holds an estimated 90% share of the Bitcoin manufacturing market.
Auradine continues to actively develop its business in AI and blockchain technology, attracting significant investments and launching new initiatives, highlighting the growing interest in these fields.
