London-based AI firm Satsuma Technology has raised 100 million British pounds (approximately $135 million) to build one of the largest Bitcoin treasuries in the UK, setting a national record and positioning itself as a top regional BTC holder.
The company announced on Thursday that it has successfully closed the fundraising round, which exceeded its initial target. Satsuma expects all committed funds to arrive within the next two weeks and plans to use the capital to significantly expand its Bitcoin holdings.
Second-largest corporate Bitcoin holder in the UK
If fully converted into Bitcoin, Satsuma would become the second-largest corporate BTC holder in the United Kingdom. It would trail only The Smarter Web Company, which owns 1,600 BTC worth approximately $190 million. Currently, the second position is held by Phoenix Digital Assets with 247 BTC valued at around $29 million, according to data from BitcoinTreasuries.NET.
Unlike The Smarter Web Company, which built its Bitcoin treasury through multiple purchases, Satsuma may complete more than half of its acquisition in a single transaction. If so, this would mark the largest one-time Bitcoin purchase by a UK-based firm.
Funding through convertible loan notes
The capital was raised via a secured convertible loan note offering. Fortified Securities acted as the lead broker for non-US investors, while Dawson James Securities handled the US market, offering the investment privately to accredited investors.
The Smarter Web Company Bitcoin holdings chart. Source: BitcoinTreasuries.NET
The funds will not only support the company’s ambitious Bitcoin purchase but also enable growth in its core operations. Satsuma’s chairman Matt Lodge said the raise would allow the company to expand its business and strengthen its position in London’s growing Bitcoin community.
A vision combining AI and Bitcoin
CEO Henry Elder called the raise a major milestone for both Satsuma and the broader London market. He said the offering was designed to test institutional interest in a future where corporate treasuries and decentralised artificial intelligence are integrated.
Satsuma Technology builds and operates infrastructure for Bittensor, a decentralised AI marketplace. The firm runs its own subnets within the Bittensor ecosystem, hosting validator nodes and offering a Subnet Task Marketplace. Through these subnets, Satsuma issues alpha tokens that are paired with TAO tokens in liquidity pools.
The value of the alpha tokens is tied to the market performance of their respective subnets. As usage and adoption grow, the firm expects the value of these tokens to increase accordingly.
Part of a growing trend in UK corporate crypto adoption
Satsuma’s announcement comes amid rising institutional interest in digital assets across the UK. A growing number of firms are integrating cryptocurrencies like Bitcoin into their financial strategies, often alongside cutting-edge technologies such as artificial intelligence.
By fusing AI with blockchain infrastructure, Satsuma aims to be at the forefront of this trend, offering both technological innovation and financial security through its Bitcoin treasury.
