Auradine, a company that produces Bitcoin mining equipment, has raised $80 million in its latest round of funding to increase its production capabilities. The funding round attracted investors like MVP Ventures, Maverick Capital StepStone Group, and Marathon Digital.

Auradine focuses on creating Bitcoin mining and Artificial Intelligence (AI) hardware and plans to use the new funding to expand its production capacity. The company has already delivered products to more than 30 blockchain data centers, resulting in over $80 million in bookings and a pipeline of over $200 million.

Amid the upcoming halving event, Bitcoin miners are eager to enhance their capabilities. The halving will reduce miners' rewards, prompting many companies to improve their mining power.

With changes anticipated since two years ago, Bitcoin miners have been navigating challenges like selling reserves and incorporating AI technologies. A surge in investments in computing hardware followed as miners profited from the market's rebound due to the inflow of funds into Bitcoin ETFs.

Data on the blockchain also indicates miners are sending reserves to exchanges, which some believe is a move to optimize mining power. Nevertheless, crypto commentators have suggested that these transactions may be more of a hedging strategy than an outright sell-off. Reports also indicate that many Bitcoin mining companies are turning to older US-made computing equipment.

Auradine's CEO, Rajiv Khemani, emphasized the company's dedication to innovation and noted plans to provide cutting-edge solutions to the market. The company aims to boost production capacity and accelerate investments in its product development.

Mayfield Fund's managing partner, Navin Chaddha, praised Auradine's performance and the significant orders it has received. He expressed support for the company's efforts in exploring new opportunities in blockchain and AI technology.