{"id":14771,"date":"2025-08-06T14:57:48","date_gmt":"2025-08-06T12:57:48","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=14771"},"modified":"2025-08-06T14:57:48","modified_gmt":"2025-08-06T12:57:48","slug":"satsuma-secures-218-million-bolstering-btc-treasury-with-125-million-in-bitcoin","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/08\/06\/satsuma-secures-218-million-bolstering-btc-treasury-with-125-million-in-bitcoin\/","title":{"rendered":"Satsuma Secures $218 Million, Bolstering BTC Treasury with $125 Million in Bitcoin"},"content":{"rendered":"

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London-listed technology company Satsuma Technology has secured 163,660,000 British pounds ($217.6 million) in total proceeds from its second convertible loan note initiative, with nearly $125 million settled in Bitcoin, to enhance its Bitcoin treasury approach.<\/p>\n

The funding round, which concluded on July 28, exceeded its minimum $129 million goal by more than 63%, propelled by high demand from both crypto-native and traditional institutional investors, the organization announced<\/a> on Wednesday.<\/p>\n

\u201cThis moment signifies a significant affirmation of our fundamental belief: that integrating a Bitcoin-native treasury with decentralized AI represents a transformation in corporate value generation,\u201d stated Satsuma CEO Henry Elder.<\/p>\n

The firm disclosed that 1,097.29 Bitcoin (BTC<\/a>) was accepted rather than $125 million in cash. \u201cThe fact that many opted to contribute in the first-ever Bitcoin subscription in London highlights their confidence in our capacity to innovate and deliver,\u201d Elder remarked.<\/p>\n

Satsuma shares fell 14% following the announcement. Source: <\/em>Yahoo Finance<\/em><\/a><\/figcaption><\/figure>\n

Related: <\/strong><\/em>10 Public Companies You Didn\u2019t Realize Are Accumulating Bitcoin<\/strong><\/em><\/a><\/p>\n

Leading crypto funds support Satsuma\u2019s funding<\/h2>\n

Investors participating in this round include prominent crypto funds like ParaFi Capital, Pantera Capital, Arrington Capital, Blockchain.com, Kraken, DCG, and Kenetic Capital, alongside various London-based equity funds managing over 300 billion pounds in collective assets.<\/p>\n

The loan notes will transition to equity at $0.013 per share, subject to shareholder endorsement and regulatory approval. Funds will be allocated for operational costs, including recruiting developers and Bitcoin holdings via Satsuma Pte, its Singapore-registered subsidiary.<\/p>\n

This capital raise bolsters Satsuma\u2019s previous announcement in June, when it raised $135 million<\/a> to initiate the establishment of its Bitcoin treasury.<\/p>\n

Satsuma Technology\u00a0operates, funds, and launches<\/a> its own Bittensor\u00a0(TAO<\/a>) subnets, providing validator nodes and a Subnet Task Marketplace. Bittensor is a decentralized AI marketplace, and Satsuma Technology develops infrastructure and AI agents for this environment.<\/p>\n

Satsuma possesses 1,126 BTC valued at approximately $128.66 million, having obtained the asset since July 14. The firm’s average purchase price per Bitcoin is $115,149, resulting in a slight unrealized loss of 0.76%, according<\/a> to BitcoinTreasuries.NET data.<\/p>\n

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Satsuma holds 1,126 BTC. Source: BitcoinTreasuries.NET<\/em><\/figcaption><\/figure>\n

Related: <\/strong><\/em>Bitcoin treasuries accumulate 630 BTC while ETFs shed $300M<\/strong><\/em><\/a><\/p>\n

Companies aim for $7.8 billion in crypto<\/h2>\n

Last week, crypto treasury firms disclosed over $7.8 billion in intended crypto acquisitions<\/a>, with Ethereum emerging as the preferred asset. At least five public companies either purchased or committed to buying over $3 billion worth of ETH.<\/p>\n

Bitcoin also remained a favored choice for crypto treasury firms like Strategy, with seven companies proposing or acquiring a total of $2.7 billion in Bitcoin.\u00a0<\/p>\n