Satsuma Technology Raises $217.6 Million with Bitcoin Support, Highlighting Institutional Interest in Crypto Treasury Strategies
Main Idea
Satsuma Technology raised $217.6 million, primarily in Bitcoin, to support its Bitcoin treasury strategy and expand its operations in decentralized AI and blockchain infrastructure.
Key Points
1. Satsuma Technology raised $217.6 million, with over half in Bitcoin, exceeding its minimum fundraising target by 63%.
2. The company's Bitcoin treasury strategy involves integrating Bitcoin into its corporate finance model to enhance liquidity and innovation.
3. Investors include top crypto funds like ParaFi Capital, Pantera Capital, and London-based equity funds.
4. Satsuma holds 1,126 BTC, acquired at an average cost of $115,149 per Bitcoin, currently at a slight unrealized loss of 0.76%.
5. The funds will be used to expand Bitcoin holdings through its Singapore subsidiary and support its Bittensor (TAO) subnets and AI infrastructure.
Description
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