London-listed technology company SATSUMA Technology has locked its total revenue of £163,660,000 ($217.6 million) in its second convertible loan round, with nearly $125 million settling in Bitcoin to strengthen its Bitcoin treasury strategy.
The company closed its pay raise on July 28, surpassing its lowest $129 million target, more than 63%, due to strong interest from crypto-local and traditional institutional investors. explain In Wednesday’s announcement.
“This moment represents a landmark validation of our core belief: the integration of Bitcoin’s local finance department with decentralized AI is a paradigm shift in corporate value creation,” said Satsuma CEO Henry Elder.
The company revealed 1,097.29 bitcoin (BTC) is accepted instead of $125 million in cash. Elder added: “The fact that many people choose to subscribe to London’s first ever Bitcoin subscription demonstrates their trust in our ability to innovate and execute.”
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Top crypto funds return to Satsuma’s salary increase
Investors supporting the round include top crypto funds such as Parafi Capital, Pantera Capital, Arrington Capital, Blockchain.com, Kraken, Kraken, DCG and Kenetic Capital, as well as several London-based equity funds that manage more than £300 billion in combined assets.
The loan notes will be converted into equity at a price of $0.013 per share, awaiting shareholder approval and regulatory permission. Funds will be allocated between operating expenses, including developer recruitment and recruitment through its Singapore-registered subsidiary Satsuma PTE and Bitcoin holdings.
Fundraising was established in an earlier announcement from Satsuma Raised $135 million Start building the Bitcoin Treasury Department.
Satsuma Technology Run, fund and launch Its own bittensor(pottery) subnet, providing a market for validator nodes and subnet task. Bittensor is a decentralized AI market, and Satsuma technology has built infrastructure and AI agents for the ecosystem.
Satsuma holds 1,126 BTC worth approximately $128.6 million and has acquired assets since July 14. The company’s average cost per bitcoin is $115,149, putting its current position in a slightly unrealized loss of 0.76%, according to to BitcoinReasuries.net data.
Related: Bitcoin Treasury adds 630 BTC while ETF loses $300 million
The company targets $7.8 billion in cryptocurrency
Last week, cryptocurrency companies More than $7.8 billion in planned cryptocurrency purchases announcedthe emergence of Ethereum is the main asset. At least five publicly traded companies have purchased or committed to buying ETH worth more than $3 billion.
Bitcoin remains a popular choice for cryptocurrency companies such as strategies, with seven companies proposing or buying a total of $2.7 billion in Bitcoin.
Strategy, used to be micro-learning, Buyed 21,021 bitcoins After raising $2.5 billion from its fourth first stock Strc. The Smarter Web Company in the UK spend 225 Bitcoin’s $26.5 million and Metaplanet Buyed 780 bitcoins About $92 million.
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