Marathon's investment in Auradine has increased to $48.7 million
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Auradine, a U.S. bitcoin ASIC chip designer backed by Marathon, has announced the initial deliveries of its Teraflux 2800 series bitcoin miners.
Auradine stated on Thursday that the Teraflux 2800 series, offering efficiency “as low as 14 J/TH,” is designed and built in the U.S. using 3-nanometer processing technology,
The company first introduced the air-cooled AT2880 and immersion-cooled AI3680 models in November. At that time, Auradine projected shipments would begin in Q2, with production volumes ramping up in Q3.
According to the release, the AT2880 model can deliver a peak hashrate of 260 TH/s, while the AI3680 model “offers a peak output of 375 TH/s and efficiency as low as 14 J/TH in optimal mode.”
Auradine’s shipment arrives amid fierce competition in the bitcoin ASIC hardware market, challenging Bitmain’s market dominance. Core Scientific recently signed a 15 EH/s bitcoin ASIC mining system supplied by Jack Dorsey’s Block Inc., and Riot has switched to Whatsminers since last year.
Marathon invested $35 million in Auradine in 2022 and participated in Auradine’s Series B round earlier this year, during which the ASIC startup raised $80 million. Marathon’s total investment in Auradine has hence increased to $48.7 million. In September 2023, Marathon paid $15 million to Auradine to secure certain rights to purchase future stocks of the Teraflux miners.
Auradine’s chief strategy officer Sanjay Gupta stated that the company has over 30 customers who have deployed the system. The firm is showcasing its products at the Bitcoin 2024 conference in Nashville.
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