Satsuma raised 218 million dollars to boost its Bitcoin strategy

The London-listed technology company Satsuma Technology has raised £163.66 million (217.6 million USD) from its second convertible bond issuance, with nearly 125 million USD paid in Bitcoin. The funding round, which ended on July 28, surpassed its target of 129 million USD by over 63% thanks to interest from cryptocurrency investors and traditional institutions.

CEO Henry Elder stated that the combination of Bitcoin vaults with decentralized artificial intelligence is a transformative step in creating business value. Satsuma currently holds 1.126 BTC worth approximately 128.66 million USD, with an average cost per Bitcoin of 115,149 USD, resulting in a slight unrealized loss of 0.76%. Leading funds such as ParaFi Capital and Pantera Capital have supported this fundraising round.

LA0.66%
BTC1.36%
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