Auradine is the Bitcoin mining company that has recently raised $153 million. Its goal is to start a new AI focused initiative.
StepStone Group led the Series C funding round, with participation from Maverick Silicon, Samsung Catalyst Fund, MARA Holdings, and other investors, according to Auradine's Statement Published on Wednesday. The oversubscribed raise brings the firm's total raised capital to $300 million.
Auradine’s funds will be used to fund a new group of businesses, AuraLinks AI. The initiative aims to offer open-standards based networking solutions for artificial intelligence data centers—offerings that are in high demand due to the massive computational power and energy requirements of AI workloads.
In a Wednesday statement, Auradine CEO Rajiv Khemani stated that the company’s dual focus on Bitcoin infrastructure and AI will place it at the forefront of technologies which are set to reshape energy and computing utilization in decades to come.
This funding round allows us scale this vision faster and with more impact,” said he.
Auradine's AI push comes as a brewing trade war between Washington D.C. and Beijing has spurred volatility in the crypto market.
Bitcoin has a current price of $84,925. This is down by 1.3% over the past two weeks and by 21% compared to its previous high price of approximately $108,000. The following are some of the most effective ways to increase your ROI:. The broader crypto market has also experienced heightened volatility since the implementation of U.S. President Donald Trump's aggressive tariffs, losing 3% of its market value in the past 24 hours.
In the face of the increasing instability on the digital asset market, many cryptocurrency companies are turning to AI for a way to diversify.
Galaxy Digital Holdings announced a few weeks back that it has signed an agreement with CoreWeave to host its AI cloud service provider CoreWeave in the crypto-mining facility located in West Texas. Cloud computing company Crusoe, on the other hand, sold its crypto-mining operations in March to NYDIG as part of a pivot towards an AI business model. Statement From the Company Show
James Rubin, Editor
