Kraken-Backed Satsuma Technology Secures $217.6M in Bitcoin-Backed Funding Round

In a landmark move highlighting institutional confidence in digital assets, UK-based Satsuma Technology has raised $217.6 million through a convertible notes round, with participation from prominent investors including ParaFi and Kraken. Notably, the company chose to receive the entire investment in Bitcoin, amounting to 1,097.29 BTC. This decision underscores a strategic shift toward cryptocurrency as a viable funding mechanism and sets a precedent for future transactions in the space. The funding round not only reflects growing trust in Bitcoin as a reserve asset but also signals broader adoption of crypto-based financial instruments by institutional players. As of August 2025, this deal stands as one of the largest Bitcoin-denominated funding rounds, potentially paving the way for more cryptocurrency-backed investments in the tech sector.

Satsuma Technology Raises $217.6M in Bitcoin-Backed Funding Round

UK-based Satsuma Technology has secured $217.6 million in a convertible notes round, with notable participation from investors such as ParaFi and Kraken. The company opted to receive the entire investment in Bitcoin, totaling 1,097.29 BTC, underscoring a strategic shift toward cryptocurrency as a viable funding mechanism.

This transaction signals growing institutional confidence in digital assets and sets a precedent for tech financing in the UK. The move aligns with broader market trends where Bitcoin is increasingly recognized as both a store of value and a medium for capital formation.

Bitcoin Firm Satsuma Raises $218M and Adds 1,000 BTC to Treasury

Satsuma Technology, a UK-based blockchain infrastructure and AI firm, has secured $218 million in a convertible note round, with over $125 million settled in Bitcoin. The company now holds 1,126 BTC, valued at approximately $128 million, marking a strategic move to integrate bitcoin and decentralized AI into its corporate treasury.

Investors including ParaFi Capital, Kraken, and Pantera Capital backed the round, which exceeded its target by 60%. CEO Henry Elder highlighted the significance of the Bitcoin-denominated subscriptions, calling it a validation of Satsuma's innovative approach. The funds will bolster the company's Bitcoin treasury and AI infrastructure expansion.