Auradine, a Silicon Valley -based startup equipment specializ announced An increase of $ 153 million in a funding series C funding. The new capital is going to increase the infrastructure company’s product suite for AI and Blockchain technology.
The series C Round is led by Stepstone Group and includes participation from Maverick Silicon, Premji Invest, Samsung Catalyst Fund, Qualcomm Ventures, and more. Auradine said the rotation was oversubscribe but did not reveal how much or in what appreciation the funds were raised.
https://www.youtube.com/watch?v=ABN8nvgdw34
In conjunction with the funding, Auradine announced the launch of Auralks AI -the new business group dedicated to networking solutions that target the energy and cooling centers of energy and cooling.
According to In Goldman Sachs, energy demand due to AI data centers is expected to rise by 165% by 2030. The development of a small scale AI data center Cost $ 10 million to $ 50 million, while large AI data centers can cost hundreds of million.
Auradine designs and manufactures specific integrated circuit (ASIC) applications and related systems for Bitcoin mining. The company see a strategic opportunity In current US-China trade tensions and US president Trump is pushing to boost domestic manufacturing. Among its major competitors are the Chinese -based firm Bitmain, which has been reported Holds 90% shares in the market In the Bitcoin manufacturing sector.
Related: How Mine Bitcoin: A Guide to a Beginner in Mining BTC
The Crypto Mining Market to grow in CAGR 13% to 2034
According to To precede research, the cryptocurrency mining market costs $ 2.5 billion in 2024 and is expected to have an annual growth rate of 13% to 2034. If that prediction is accurate, the mining market will reach a scale of $ 8.2 billion by 2034.
The rising hashrate of bitcoinIn unison in increasing energy demands following each division, the competition in the mining sector intensified. As a result, pushing for greater efficiency and advanced technology can create openings for new players to get market sharing.
Trump’s dual intent to do the US ”the planet’s crypto capital“And bring manufacturing to the coast can also play. The US costs more than 40% of Bitcoin (Btc) Hashrate, but US -based miners are still relying on the rigs made of China.
Auradine’s $ 80 million series, such as series C, is Oversubscribe. In total, the company raised more than $ 300 million in all funding cycles.
Magazine: Asia Express: Bitcoin’s miners are lying on the power robbery, replace the ‘closing’ scam
