ChainCatcher reports that software-driven mining startup Mariana Minerals has completed a $310 million Series B round led by Khosla Ventures, with participation from Andreessen Horowitz (a16z), Breakthrough Energy Ventures, Greenoaks, BHP Ventures, and Mitsubishi Corporation. This brings the company’s total funding to $400 million and its valuation to $1.5 billion. Founded in 2024 by Turner Caldwell, a former member of Tesla’s factory design and construction team, Mariana is headquartered in San Francisco and aims to transform traditional mining through software technology. The company currently operates two mines: Copper One in Utah (a copper mine targeting 50,000 tons of refined copper per year) and Lithium One in Texas (expected to begin commercial production in 2027).
Mariana Minerals Completes $310M Series B Round at $1.5B Valuation
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Summary
Mariana Minerals closed a $310 million Series B round at a $1.5 billion valuation, marking a significant update in project funding. Khosla Ventures led the round, with participation from a16z, Breakthrough Energy Ventures, and others. The company has now raised a total of $400 million. Founded in 2024 by former Tesla engineer Turner Caldwell, Mariana uses software to modernize mining operations. It currently operates Copper One in Utah and Lithium One in Texas, both set to begin production in 2027. This on-chain news event underscores growing interest in technology-driven mining solutions.
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