Satsuma secures $218M, including $125M in BTC, to advance Bitcoin strategy

Key Points

1. Satsuma Technology secured $217.6 million in its latest funding round, exceeding its $129 million target by over 63%, with $125 million settled in Bitcoin.

2. The company accepted 1,097.29 Bitcoin instead of cash, highlighting investor confidence in its Bitcoin-native treasury and decentralized AI strategy.

3. Investors included prominent crypto funds such as ParaFi Capital, Pantera Capital, Arrington Capital, Blockchain.com, Kraken, DCG, and Kenetic Capital.

4. Satsuma holds 1,126 BTC, valued at approximately $128.66 million, with an average cost of $115,149 per Bitcoin, currently at a slight unrealized loss of 0.76%.

5. The fundraising follows Satsuma's earlier $135 million raise in June to build its Bitcoin treasury and infrastructure for the decentralized AI ecosystem Bittensor.