Satsuma Technology has raised $217.6 million in its latest convertible loan note round, with over half of the amount, approximately $125 million, settled in Bitcoin. This fundraising, which closed on July 28, exceeded the initial target of $129 million due to significant interest from various investors, including leading crypto funds and UK institutional investors. Satsuma's CEO, Henry Elder, emphasized that integrating a Bitcoin-centric treasury with decentralized AI represents a shift in corporate value creation. The company accepted 1,097.29 Bitcoin in lieu of cash, highlighting investor trust. Notably, several prominent investor groups, including ParaFi Capital, Pantera Capital, and others participated in this funding round. The funds will be allocated for operational expenses and to bolster Bitcoin holdings through Satsuma's subsidiary in Singapore. Satsuma currently holds 1,126 BTC valued at about $128.66 million, reflecting a slight unrealized loss due to its acquisition cost. This funding comes as interest in Bitcoin among corporate treasury firms remains high, alongside ongoing developments in the broader crypto finance landscape.

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