1 week ago
Satsuma Technology has raised $135 cardinal to money 1 of the UK's largest azygous Bitcoin treasury acquisitions, positioning itself arsenic a apical determination BTC holder.
London-based artificial quality steadfast Satsuma Technology has raised 100 cardinal British pounds ($135 million) for its caller Bitcoin treasury, mounting a nationalist grounds for BTC treasury raises.
According to a Thursday announcement, Satsuma Technology said it “has successfully closed the publication connected the rise materially successful excess of” the $135 cardinal target. The institution expects each committed funds to get wrong the adjacent 2 weeks.
If the afloat magnitude is converted into Bitcoin, the acquisition would marque Satsuma the second-largest firm Bitcoin (BTC) holder successful the UK, down The Smarter Web Company, which holds 1,600 BTC worthy astir $190 million, according to BitcoinTreasuries.NET data. Currently, Phoenix Digital Assets holds 2nd spot with 247 BTC valued astatine $29 million.
The planned acquisition could besides people the largest azygous Bitcoin acquisition by a UK firm, arsenic The Smarter Web Company accumulated its holdings done aggregate transactions. Satsuma could get much than fractional of its full successful a azygous buy.
The Smarter Web Company Bitcoin holdings chart. Source: BitcoinTreasuries.NETRelated: UK steadfast buys $250M Bitcoin arsenic analysts oculus quiescent Easter weekend
Firm raised funds via convertible enactment
Satsuma Technology performed the rise done a secured convertible indebtedness enactment offering, with Fortified Securities acting arsenic the pb broker for non-US investors and Dawson James Securities arsenic the mandated broker for US investors. In the US, the rise was a backstage offering to accredited investors.
“The backing volition alteration america to some accelerate the maturation of our concern operations arsenic good arsenic presumption america astatine the forefront successful London of the Bitcoin community,” said the firm’s president Matt Lodge.
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A fusion of Bitcoin and artificial intelligence
“This palmy superior rise marks a pivotal moment, not conscionable for Satsuma, but for the London market,” said Satsuma Technology CEO Henry Elder. He explained that the steadfast launched its offering to “test the organization appetite for our vision-a aboriginal wherever firm treasury and decentralized AI are profoundly intertwined.”
Satsuma Technology runs, funds and launches its ain Bittensor (TAO) subnets, providing validator nodes and a Subnet Task Marketplace. Bittensor is simply a decentralized AI marketplace, and Satsuma Technology builds infrastructure and AI agents for this ecosystem.
Satsuma Technologies’ TAO subnets contented alpha tokens that are paired with TAO successful liquidity pools, with their terms purportedly depending connected the subnet’s marketplace value. “As subnet adoption grows, truthful does the worth of its corresponding alpha tokens,“ it said.
The announcement comes amid increasing organization involvement successful crypto treasuries, arsenic UK firms progressively blend integer assets with emerging technologies similar AI.
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English (US) 