UK-based Satsuma Technology closed a landmark $218M convertible note round—with $125M settled in Bitcoin—marking the first large-scale Bitcoin subscription by a UK-listed firm and formal institutional embrace of crypto as a treasury asset.
Satsuma Technology secured a $218M convertible note round, 63% above target, with commitments of £163.6M. The deal included a first-ever large-scale Bitcoin subscription with 1,097 BTC (worth about $125M) from both crypto-native and traditional institutions, and notes converting to equity at $0.013 per share, underlining its strategy to integrate Bitcoin treasury and decentralized AI.