Bitcoin News Today: Satsuma Secures $218M, Including $125M in BTC, to Expand Bitcoin Strategy

Satsuma Technology, a London-listed tech firm, has raised approximately $217.6 million in its second convertible loan note round, with nearly $125 million received in Bitcoin, significantly advancing its Bitcoin treasury strategy [1]. The offering, which closed on July 28, exceeded its minimum target of $129 million by more than 63%, fueled by strong demand from both traditional and crypto-native institutional investors [1].

The firm accepted 1,097.29 Bitcoin in place of cash, demonstrating the confidence of its backers in its vision of integrating decentralized AI with a Bitcoin-backed corporate model. “This moment represents a landmark validation of our core belief: that fusing a Bitcoin-native treasury with decentralized AI is a paradigm shift in corporate value creation,” said CEO Henry Elder [1]. The firm’s shares dropped 14% following the announcement, potentially reflecting investor scrutiny of the company’s capital structure and future execution plans [1].

Investors in the round include leading crypto funds such as ParaFi Capital, Pantera Capital, Arrington Capital, Kraken, DCG, and Kenetic Capital, alongside London-based equity funds overseeing combined assets of over £300 billion [1]. The convertible loan notes are set to convert to equity at a price of $0.013 per share, subject to shareholder and regulatory approvals.

Satsuma plans to allocate the raised capital toward operating expenses and expanding its Bitcoin holdings through its Singapore-based subsidiary, Satsuma Pte. The company already holds 1,126 Bitcoin, valued at around $128.66 million, with an average cost of $115,149 per Bitcoin, placing its position at a minor 0.76% unrealized loss [1]. The Bitcoin was acquired between July 14 and the close of the fundraising period.

Satsuma operates and funds its own Bittensor (TAO) subnets, contributing to the decentralized AI ecosystem by providing validator nodes and a Subnet Task Marketplace. The firm also develops infrastructure and AI agents for this platform, positioning itself at the intersection of blockchain and AI innovation.

The fundraising comes amid a broader surge of institutional interest in Bitcoin treasuries. Last week alone, over $7.8 billion in planned crypto purchases were announced, with Bitcoin and Ethereum as the most sought-after assets [1]. This trend reflects a growing corporate strategy to use Bitcoin as a long-term value reserve and strategic asset.

The company’s latest round builds on its June announcement, in which it raised $135 million to begin its Bitcoin treasury initiative [1]. With this second round, Satsuma continues to solidify its presence in the evolving intersection of AI, blockchain, and institutional crypto adoption.

Source:

[1] Satsuma Raises $218M With $125M in Bitcoin to Expand... (https://cointelegraph.com/news/satsuma-secures-218m-btc-advance-bitcoin-strategy)

[2] BTCUSD - Satsuma secures $218M, including $125M in BTC... (https://mx.advfn.com/bolsa-de-valores/COIN/BTCUSD/crypto-news/96575226/satsuma-secures-218m-including-125m-in-btc-to)