Satsuma Technology, a London-listed AI firm, has secured £163.6 million ($217.6 million) in fresh capital—over half of it in Bitcoin—as it doubles down on a crypto-native treasury model.
The raise, completed on July 28, exceeded its $129 million target by 63%, with $125 million contributed in BTC. CEO Henry Elder called the raise a breakthrough moment, signaling strong investor support for merging decentralized AI with Bitcoin holdings.
Backers included major crypto firms like Pantera, Kraken, ParaFi, and Blockchain.com, along with several large UK equity funds. The funds were raised via convertible loan notes and will go toward developer hiring, operations, and BTC accumulation through Satsuma’s Singapore unit.
Satsuma currently holds 1,126 BTC, purchased at an average of $115,149. The company’s shares dropped 14% following the announcement.
The move comes amid a wave of corporate crypto accumulation. Public firms recently disclosed plans to acquire over $7.8 billion in crypto assets, with Ethereum leading but Bitcoin still drawing significant interest from companies like Strategy, Metaplanet, and others.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Source: https://coindoo.com/satsuma-technology-bets-big-on-bitcoin-in-landmark-crypto-raise/