Auradine Raises $153 Million in Series C Round Amid AI Infrastructure Expansion

Bitcoin miner manufacturer Auradine has secured $153 million in a Series C funding round as it broadens its focus to include AI infrastructure. The round, like the company’s previous two, comprised both equity and debt, with $138 million raised through equity and an additional $15 million in venture debt, according to CEO and co-founder Rajiv Khemani in a statement to The Block.

Originally targeting $125 million, the round was oversubscribed by over 22%. StepStone Group led the investment, with participation from Maverick Silicon, Premji Invest, Samsung Catalyst Fund, Qualcomm Ventures, Mayfield, MARA Holdings, GSBackers, and other existing backers.

The fundraising process began in late 2024 and concluded earlier this month, bringing Auradine’s total funding to over $300 million. While the company did not disclose its current valuation, Khemani noted that Auradine expects to achieve EBITDA profitability within the next few quarters.

Expansion Plans

With this latest funding, Auradine intends to grow both its bitcoin mining hardware business and its new AI-focused division, AuraLinks AI. Founded in 2022 and headquartered in California, Auradine produces bitcoin mining machines under its Teraflux brand. It positions itself as the only U.S.-based manufacturer of American-designed bitcoin miners, competing with established Chinese hardware makers. Its equipment currently powers more than 40 major data center operators, including Marathon Digital.

Auradine's bitcoin mining operations have reached an annualized revenue run rate exceeding $150 million, supported by a robust order pipeline. The newly launched AuraLinks AI division will focus on developing networking infrastructure for AI data centers.