Satsuma Technology Reports Significant Expansion of its Bitcoin Holdings Following Recent Funding Round
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Bitcoin treasury firm Satsuma adds over 1,000 BTC to its balance sheet following new convertible note round
In a significant move, London-based Bitcoin treasury firm Satsuma Technology has announced that it has increased its Bitcoin holdings by adding more than 1,000 BTC to its balance sheet. This massive addition comes on the heels of a successful convertible loan note round, which saw the company secure approximately $218 million in funding.
As part of the deal, a substantial portion was settled in Bitcoin, with investors contributing around 1,097 BTC worth approximately £96.9 million. The newly acquired cryptocurrency will be held by Satsuma’s Singapore-registered subsidiary.
Satsuma CEO Henry Elder expressed his excitement over the oversubscribed fundraising round, stating that it has validated the company’s core thesis of integrating a Bitcoin-native treasury with decentralized AI to create new corporate value. He emphasized that this move sets a new benchmark for London-based firms in the sector, highlighting the trust investors have placed in Satsuma’s ability to innovate and execute.
The influx of capital will be used to expand operations by hiring developers, while the remaining funds will be held in the company’s Bitcoin treasury.
Source: cryptobriefing.com
