London-based Satsuma Technology has completed a $217.6 million fundraising round, with approximately $125 million of that sum subscribed in bitcoin.
The raise, finalized on July 28, surpassed its minimum target by 63%, highlighting strong demand from both bitcoin-focused and traditional institutional investors.
Investor Confidence
Satsuma’s CEO Henry Elder described the raise as a milestone for the company’s strategy, stating:
This moment represents a landmark validation of our core belief: that fusing a Bitcoin-native treasury with decentralised AI is a paradigm shift in corporate value creation.
Notably, Satsuma accepted 1,097.29 BTC in lieu of cash for a significant portion of the round, marking the first-ever bitcoin-denominated subscription for a London-listed company.
Elder emphasized that investor willingness to subscribe in bitcoin reflects confidence in Satsuma’s approach.
Leading funds
Top industry investors participated, including ParaFi Capital, Pantera Capital, Arrington Capital, Blockchain.com, Kraken, DCG, and Kenetic Capital, alongside major London-based equity funds.
The convertible loan notes will convert to equity at $0.013 per share, pending regulatory approval.
Proceeds are earmarked for operational expenses and bitcoin accumulation via Satsuma’s Singapore-based subsidiary.
Satsuma’s growing reserve
Satsuma now holds 1,126 BTC, valued near $129 million, with an average acquisition price of $115,149 per bitcoin.
According to BitcoinTreasuries.NET, Satsuma’s current position is at a slight unrealized loss of 0.76%.
For context, Satsuma’s June round previously raised $135 million to kickstart its bitcoin treasury.
Satsuma also develops infrastructure and AI agents for the decentralized Bittensor AI marketplace, running its own subnets and validator nodes.
Surge in corporate bitcoin purchases
Recent weeks have seen public companies accelerate bitcoin acquisitions.
Firms such as MicroStrategy, Metaplanet, and The Smarter Web Company have all announced significant bitcoin buys, with Metaplanet’s recent purchase totaling 780 BTC.
In total, seven companies have committed to or acquired $2.7 billion in bitcoin, reinforcing the trend of growing corporate reserves.
