The Bitcoin halving is close. And Bitcoin mining hardware manufacturers are ramping up to be ready.
What’s happening:
- San Francisco, California based web infrastructure company Auradine has raised $80M USD in a new Series B financing round
- The round included notable participation from TopTier Capital Partners, Maverick Capital, Mayfield Fund and Marathon Digital (NASDAQ: MARA)
Why it matters:
- Many of the leading manufacturers of Bitcoin mining rigs are operated outside of the United States, which some believe poses a potential risk to decentralized supply of hardware for Bitcoin mining companies located in North America
- The tensions between the United States and China around chips and GPUs for artificial intelligence has raised concerns around if Bitcoin mining hardware might become scarce in the near future
Going deeper:
- Auradine’s flagship Bitcoin miners known as Teraflux are purpose built for energy efficiency and optimized performance, both of which are more important than ever with the next Bitcoin halving on the near horizon
By the numbers:
- Auradine has sold their Bitcoin mining hardware to 30 different significant Bitcoin mining operators globally since inception
- Currently, Auradine has publicly stated they have approximately $200M USD in upcoming purchase orders
The intrigue:
- The impact of Bitcoin mining on electricity consumption and carbon emissions has also been highly relevant ahead of the upcoming halving, with Gryphon Digital Mining (NASDAQ: GRYP) notably becoming the first publicly listed Bitcoin mining company to ever earn certification around being fully carbon neutral in their operations
