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ToggleSatsuma Technology Successfully Raises $217.6 Million – Nearly $125 Million Paid in Bitcoin, Accelerating BTC Accumulation Strategy.
The London-listed technology company – Satsuma Technology – has just completed its second funding round through convertible bonds, raising a total of 163.66 million British pounds (equivalent to $217.6 million). Of this, nearly $125 million was directly paid by investors in Bitcoin, marking a notable step in the company's BTC reserve strategy.
The funding round closed on July 28th, exceeding the initial target of $129 million by over 63%. Satsuma noted that strong interest from both traditional investment funds and cryptocurrency-focused investors created this unexpected success.
Mr. Henry Elder, CEO of Satsuma Technology, affirmed:
"The success of this funding round is clear evidence of our core belief: combining a Bitcoin treasury with decentralized artificial intelligence will create a breakthrough in corporate value."
Notably, instead of cash payment, investors contributed a total of 1,097.29 BTC – equivalent to $125 million – in the first instance in London of an investment made entirely in Bitcoin. CEO Elder commented:
"The fact that many investors chose to invest using Bitcoin instead of cash shows their confidence in our innovation and execution capabilities."
Major Investment Funds Supporting Satsuma
The list of investors includes prominent names in finance and cryptocurrency, including ParaFi Capital, Pantera Capital, Arrington Capital, Blockchain.com, Kraken Ventures, Digital Currency Group (DCG) and Kenetic Capital. Additionally, there are several equity investment funds based in London, currently managing total assets worth over 300 billion British pounds.
According to the plan, these bonds will be converted to shares at $0.013 per share after shareholder and regulatory approval. The funds will be equally distributed between operational activities – including engineering recruitment – and continuing to strengthen Bitcoin holdings through the Singapore-registered subsidiary: Satsuma Pte Ltd.
Previously, in June 2025, Satsuma had successfully raised $135 million in the initial phase of building its Bitcoin treasury strategy.
Building Decentralized AI Infrastructure on Bittensor
Satsuma is currently one of the strong operators and developers of subnets in the Bittensor (TAO) ecosystem – a decentralized AI marketplace. The company provides validator nodes and the Subnet Task Marketplace platform to connect AI tasks. Beyond infrastructure, Satsuma is also building specialized intelligent AI agents to serve this network.
To date, Satsuma owns a total of 1,126 BTC, valued at approximately $128.66 million, with an average purchase price of $115,149/BTC. According to data from BitcoinTreasuries.NET, the company currently has a temporary loss of about 0.76%, reflecting short-term price volatility in the Bitcoin market.
Cryptocurrency Hoarding Fever in the Business World
Satsuma's funding event, largely in Bitcoin, occurs while many companies globally are accelerating their cryptocurrency accumulation strategies.
According to the latest figures, in the last week of July, crypto-related companies announced plans to purchase a total of over $7.8 billion in cryptocurrencies – with Ethereum leading the trend. ETH has been committed to purchase or has been purchased by at least 5 public companies, with a total value exceeding $3 billion.
Bitcoin continues to be a preferred choice. Strategy (formerly MicroStrategy) has raised $2.5 billion from preferred stock issuance and purchased an additional 21,021 BTC. Additionally, the British company The Smarter Web Company bought 225 BTC worth around $26.5 million, while Metaplanet from Japan spent approximately $92 million to own 780 BTC.
