Bitcoin Miner Manufacturer Auradine Secures $153 Million in Series C Funding

Auradine, a California-based bitcoin miner manufacturer, has raised $153 million in a Series C funding round. The investment will support expansion of both its core bitcoin mining business and its newly launched AI infrastructure division, AuraLinks AI.

The round consists of $138 million in equity and $15 million in venture debt. According to Auradine co-founder and CEO Rajiv Khemani, the round was oversubscribed by over 22%, exceeding the company's initial target of $125 million.

StepStone Group led the investment, with participation from Maverick Silicon, Premji Invest, Samsung Catalyst Fund, Qualcomm Ventures, Mayfield, MARA Holdings, GSBackers and other existing investors. The fundraising process began in late 2024 and concluded earlier this month.

The fresh capital brings Auradine's total funding to over $300 million. While the company did not disclose its valuation, Khemani noted that Auradine expects to become EBITDA-positive within the next few quarters.

Founded in 2022, Auradine manufactures bitcoin miners under the Teraflux brand. The company positions itself as the only U.S.-based firm producing American-engineered bitcoin miners, competing directly with Chinese hardware makers. Its equipment powers over 40 major data center operators, including Marathon Digital.

Auradine currently generates an annualized revenue run rate exceeding $150 million from its bitcoin miner manufacturing business. Its newly launched AuraLinks AI division focuses on building networking infrastructure for AI data centers, with plans to announce products later this year.

While expanding into AI, bitcoin mining remains Auradine's primary business. The company currently employs over 100 people and plans to grow its workforce, particularly in engineering roles.

The investment comes as the broader cryptocurrency industry continues to mature. Four years after Coinbase went public at an $86 billion valuation, established crypto companies are pursuing expansion through acquisitions and new revenue streams, while maintaining strong connections to bitcoin price performance.