TLDR

• Satsuma Technology secures $218 million in funding, with over $125 million settled in Bitcoin.

• The company now holds 1,126 BTC, valued at about $128 million after a recent funding round.

• The raise includes backing from crypto firms like ParaFi Capital, Kraken, and Pantera Capital.

• The funds will support expanding Satsuma’s Bitcoin treasury and AI infrastructure.

Satsuma Technology, a UK-based firm specializing in blockchain infrastructure and AI, has raised $218 million through a convertible note round. A significant portion of this raise was settled in Bitcoin, adding over 1,000 BTC to the company’s treasury. This move aligns with Satsuma’s strategy to integrate Bitcoin and decentralized AI, which the company views as the future of corporate value creation.

Satsuma CEO Henry Elder emphasized the significance of this milestone, stating that the successful raise and the involvement of high-profile investors validate the company’s core belief. “The fact that many chose to subscribe in the first-ever Bitcoin subscription in London speaks to their trust in our ability to innovate and execute,” Elder said. This new round sets a new benchmark for London-based firms in the crypto sector.

Investor Interest in Satsuma Bitcoin Strategy

The recent funding round exceeded its initial target by more than 60%, indicating strong investor confidence in Satsuma’s business model. Satsuma secured investments from major crypto firms, including ParaFi Capital, Pantera Capital, and Kraken.

Subsequently, these firms were joined by institutional investors managing over £300 billion in combined assets. The round raised a total of £163.66 million ($218 million), with approximately $125 million settled in Bitcoin, further solidifying Satsuma’s position as a Bitcoin-focused treasury firm.

The company’s success in attracting both crypto-native and traditional institutional investors underlines the growing interest in Bitcoin as a strategic asset. Investors contributed 1,097 BTC, which is now held by Satsuma’s Singapore-registered subsidiary, Satsuma Pte. The decision to accept Bitcoin as part of the investment reflects the company’s commitment to its Bitcoin treasury strategy.

Use of Funds: Expansion and AI Development

Satsuma plans to use the funds from the convertible note round to further expand its Bitcoin treasury and enhance its AI capabilities.

The company intends to use a portion of the raised funds for operating expenses, including hiring additional developers to grow its blockchain infrastructure and decentralized AI ecosystem. Satsuma’s AI marketplace, Bittensor, continues to evolve, and the firm aims to strengthen its role in this growing sector.

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The remaining funds will be held in the company’s Bitcoin treasury, providing it with a strong financial foundation for future growth. By integrating Bitcoin into its operations, Satsuma hopes to provide a competitive edge in the blockchain and AI space.

Satsuma Bitcoin Strategy and Future Plans

Following this fundraising round, Satsuma’s Bitcoin holdings now total 1,126 BTC, which are valued at approximately $128 million. The company’s average purchase price for Bitcoin stands at $115,149 per coin, placing it at a slight unrealized loss of 0.76%, according to BitcoinTreasuries.NET.

However, the company remains focused on long-term growth and plans to continue building its Bitcoin treasury as part of its broader strategy.

Satsuma is also expanding its infrastructure for decentralized AI and blockchain ecosystems. The firm’s goal is to position itself as a global leader in the integration of Bitcoin-native strategies with decentralized AI development. The recent raise and the addition of Bitcoin to its balance sheet reflect the company’s confidence in the growth of both industries.