According to the company’s latest quarter submission, Mara received a Terraphlox Bitcoin Miner worth $73.3 million from Silicon Valley Chip Startup Auragin in the first half of 2025.
This article comes from Theminermag, an industry publication of cryptocurrency mining, and focuses on the latest news and research on the institutional Bitcoin mining company.
The amount was paid in advance – $22.3 million in the first quarter and $51 million in the second quarter – represents the majority of Mara’s $188 million cash outflows, representing the majority of cash outflows for vendor advances in the first half.
“For the six months ended June 30, 2025, the company promoted Auragin $73.3 million to purchase products. All of this was filled by the end of the period with no remaining balance remaining.”
As of June 30, the Bitcoin mining giant still had $51.4 million in an outstanding purchase commitment with Auragin, which is scheduled for delivery in regular installments until the remainder of 2025.
Delivery emphasizes deepening financial and strategic relationships with Mala’s Aurazine. In addition to purchasing hardware, Mara invested $20 million in Auradine’s preferred stock in February, converting its previous safe investment of $1.2 million into stocks. Aurazine’s total holdings are currently $85.4 million, with Mara holding a seat on the startup’s board of directors.
During the half-cycle of 2020, Mara’s own mining fleet consisted almost exclusively of Bitmain’s Antminers. The pivot to Auragin shows a strategic shift towards sourcing US-made mining equipment. Meanwhile, Bitmain is increasing the US domestic manufacturing capacity, strengthened by the import of electronic components amid looming uncertainty in trade tariffs.
The original article can be found here.
