Particle.news
Download on the App Store
6 ARTICLES
·
last wk.

Satsuma’s $218 Million Convertible Note Raise Makes It UK’s Second-Largest Corporate Bitcoin Holder

The round’s record Bitcoin subscriptions signal growing institutional trust in pairing decentralized AI operations with a Bitcoin-native balance sheet.

Bitcoin treasury firm Satsuma adds over 1,000 BTC to its balance sheet following new convertible note round
Image
Bitcoin treasury firm satsuma raises $218m in oversubscribed round

Overview

  • Satsuma closed a £163.6 million ($217.6 million) convertible note round on July 28, overshooting its £100 million target by 64% with backing from ParaFi Capital, Pantera Capital, Digital Currency Group, Kraken and other institutional investors.
  • Investors contributed 1,097 BTC to the raise, raising Satsuma’s Bitcoin holdings to 1,126 BTC (about $128 million) and placing the company just behind The Smarter Web Company in the UK corporate rankings.
  • The notes are slated to convert into equity at $0.013 per share pending shareholder and regulatory approval, giving backers upside potential beyond debt exposure.
  • Proceeds will fund expansion of Satsuma’s decentralized AI infrastructure and operational teams, with a portion held in fiat to maintain at least three months of working capital.
  • This deal marks the first large-scale institutional Bitcoin subscription by a UK-listed company and builds on a $135 million June seed round that first established its Bitcoin-native treasury.