217.6 million euros: this is the record amount raised by Satsuma Technology in the round closed on July 28, with over half of the sum coming in the form of Bitcoin and the strong endorsement of the major crypto and institutional funds in London.
Why is the SatsumaTechnology collection of Bitcoin already a market case?
The initiative by Satsuma Technology marks a turning point in European finance: they have raised a whopping 217.6 million euros, exceeding the minimum target set at 129 million dollars by 63%.
More than 1,097 Bitcoin were accepted in place of 125 million dollars in cash, a move that had never been seen in this form in the London landscape.
According to Henry Elder, CEO of Satsuma, this operation “validated by the main traditional and crypto-native investors” marks a new era: combining a Bitcoin-native treasure with decentralized artificial intelligence “truly changes the rules of corporate value”.
Among those who have supported Satsuma are the most influential crypto funds such as ParaFi Capital, Pantera Capital, Arrington Capital, Blockchain.com, Kraken, DCG, and Kenetic Capital.
Several London-based funds also participate, collectively managing over 300 billion pounds of assets: an institutional endorsement that carries weight.
Elder emphasizes that the round attracted investors from both the crypto and traditional worlds, demonstrating a growing crossover interest: several subscriptions were made via Bitcoin, “as a testament to the confidence in the team’s innovation and execution capabilities.”
Satsuma has chosen a unique approach: more than half of the capital raised has come directly in Bitcoin. In detail, approximately 1,097.29 Bitcoin (for 125 million dollars) were accepted.
Currently, the company holds 1,126 Bitcoin — valued at 128.66 million dollars as of July 14 — at an average price of 115,149 dollars per token. At the moment, the portfolio shows a slight unrealized loss of 0.76%.
The choice to receive Bitcoin instead of just fiat has generated strong attention, especially among investors who are interested in “Bitcoin-native” models for corporate treasury and governance.
What is the strategy on Bittensor and decentralized AI?
Satsuma does not just collect assets: its mission is to create value in decentralized AI. It manages and develops its own Bittensor ecosystem, operating as validator nodes and offering a marketplace for fully decentralized artificial intelligence subnets.
Bittensor is known as the first true decentralized AI marketplace: participants can create, fund, and run AI infrastructure and agents without intermediaries.
Satsuma is building core solutions to empower all of this, pouring both raised capital and design know-how into the growth of this ecosystem.
New hiring of developers and talents to scale the Bittensor platform;
Further acquisitions of Bitcoin through the company Satsuma Pte based in Singapore;
Coverage of operational and expansion costs, including the development of decentralized marketplaces and AI agents;
The financing is a second injection of capital after the June 2024 round of 135 million dollars, which had initiated the first Bitcoin purchases for the corporate treasury.
The investors will receive “convertible loan notes,” which will be converted into Satsuma shares at a price of 0.013 dollars per share.
However, this conversion requires the green light from shareholders and regulators: a crucial step that could also impact governance and the future value of the shares.
Embracing Bitcoin as a treasury asset obviously exposes to volatility: just consider the slight unrealized loss of 0.76% compared to the average purchase cost.
On the other hand, the choice can ensure enhancement of transparency, cross-border agility, and alignment with the trends of DeFi.
The massive presence of traditional investors demonstrates how even large institutional players see in this strategy an opportunity and not just a speculative risk.
As Elder explained, the goal is “to create an operational and financial bridge between the Bitcoin-native world and the emerging decentralized artificial intelligence,” leveraging the synergy between digital currencies and new governance models.
What happens now after the record round?
The closing of 217.6 million euros establishes Satsuma as a reference point for those seeking innovation between crypto treasury and decentralized AI.
All eyes are on Bittensor, which could catalyze new projects and developments, and especially on the management of the “crypto treasury”: every price variation of Bitcoin will directly impact the company’s balance sheets and reputation.
The future depends on how Satsuma will be able to combine financial stability, innovation, and credibility with investors and the community.
Follow the updates to understand if this “Bitcoin-native” strategy will become standard among AI companies in Europe or remain an isolated case: everything can change in the coming months.
