Bitcoin Miner Auradine Raises $153M in Oversubscribed Series C Round, Expands Into AI Infrastructure

Auradine, a rising star in the Bitcoin mining hardware space, has secured $153 million in an oversubscribed Series C funding round as it prepares to broaden its focus into AI infrastructure. By Daniel Jeffries.

Auradine, a prominent name in Bitcoin mining hardware, has closed a Series C funding round with a stellar $153 million raised, according to a report by The Block.

The round, which was significantly oversubscribed, includes $138 million in equity and $15 million in venture debt, as confirmed by co-founder and CEO Rajiv Khemani.

It follows a previous report by BTC in December 2024, which stated that Auradine was aiming for a $125 million Series C.

The Series C was led by StepStone Group, with substantial participation from Maverick Silicon, Premji Invest, Samsung Catalyst Fund, Qualcomm Ventures, Mayfield, MARA Holdings, GSBackers, and several returning backers.

The startup, which is best recognized for its high-performance Bitcoin mining rigs, is now expanding its focus to include AI infrastructure. This sector is rapidly heating up as more companies seek to benefit from surging demand for computing power, largely driven by large language models and generative AI.

Although Khemani declined to comment on Auradine’s current valuation, he mentioned that the company anticipates becoming EBITDA-positive within the next few quarters. This signals an internal focus on achieving operational profitability and long-term sustainability.

Earlier reports from December 2024 indicated that Auradine had commenced fundraising for the Series C in the final quarter of 2024, and the round was closed earlier this month.

With this latest capital infusion, Auradine’s total funding to date surpasses $300 million, highlighting the scale of investment in the Silicon Valley startup.

Auradine is recognized for its cutting-edge technology and is viewed as one of the most innovative firms operating at the intersection of cryptocurrency mining and AI infrastructure.

The company’s previous funding rounds have also seen participation from major industry figures, including Charles Harris (co-founder of Harris Semiconductor), Dan Morgenthaler (Mayfield), and Ben Horowitz (Ann Street).