London AI firm Satsuma Technology raises $135M to buy Bitcoin, setting a national treasury record.
- Satsuma may become second-largest UK corporate Bitcoin holder
- Funds raised with help from US and international investors
- Company links AI tech with Bitcoin and decentralized networks
Satsuma Sets New UK Bitcoin Record
Satsuma Technology, an artificial intelligence company based in London, has raised 100 million British pounds, about $135 million, to buy Bitcoin. This makes it the largest single Bitcoin treasury raise by a UK firm. If used fully to buy Bitcoin, Satsuma would become the second-largest corporate Bitcoin holder in the country.
How the Funds Were Raised
The money came from a convertible loan note offering, which is a type of investment tool. Satsuma worked with Fortified Securities for international investors and Dawson James Securities for US ones. In the United States, only accredited investors could take part. The company said all funds should arrive within the next two weeks.
Bitcoin and AI Working Together
Satsuma isn’t just buying Bitcoin. It also works with Bittensor, a network for decentralized artificial intelligence. Satsuma builds and operates its own systems, called subnets, and offers a service known as the Subnet Task Marketplace. These subnets help run AI and issue special tokens linked to the Bittensor network.
Why This Matters
Satsuma’s move shows growing interest from institutions in using Bitcoin as part of their business plans. The company believes it can lead in both the Bitcoin and AI space by combining the two. Its CEO called the raise a key moment for both Satsuma and the London market.
What’s Next?
Satsuma may soon buy Bitcoin worth over $135 million. If it does this in one transaction, it would be the largest single BTC buy by a UK company. This shows continued confidence in Bitcoin’s future as more companies see value in digital currencies and decentralized tech.
Source: cointelegraph.com
