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Breaking News: Polymarket Set To Go Live In The US Following CFTC Approval, Says CEO

UK-Based Satsuma Technology Raises $135 Million To Accelerate Bitcoin Purchases

Ash Tiwari
by Ash Tiwari
1 month ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Satsuma Technology, a London-based Bitcoin (BTC) treasury management and AI-driven decentralized finance (DeFi) firm, announced today that it has raised more than 100 million British pounds – approximately $135 million.

UK Firm Raises Funds For Bitcoin Acquisition

Earlier today, Satsuma Technology – formerly known as TAO Alpha PLC – confirmed the successful completion of a $135 million fundraising round, led by a group of high-profile funds and institutional participants. The proceeds will be used to support the firm’s BTC treasury strategy.

Related Reading: Bitcoin’s Next Big Buyer? Saylor Points To Bank Of England

The raise was executed through a private offering of a secure convertible loan note. Fortified Securities acted as the lead broker for non-US investors, while Dawson Jones handled US distribution – available only to accredited investors.

If Satsuma converts the entire raise into BTC, it would propel the firm to second place among the UK’s largest corporate BTC holders. According to data from bitcointreasuries.net, Satsuma Technology currently holds 29 BTC, ranking fifth on the list.

Satsuma
Satsuma Technologies shares were down 3.72% on the day at the time of writing | Source: Yahoo! Finance

Leading the UK’s corporate Bitcoin treasury rankings is web development and digital marketing firm The Smarter Web Company, which holds 1,600 BTC – worth approximately $190 million at current prices. Phoenix Digital Assets follows in second place with 247 BTC, valued at around $29.34 million.

UK
Source: bitcointreasuries.net

Commenting on the raise, Mark Moss, Chief Bitcoin Strategist at Satsuma Technology, said the funding reflects strong investor confidence in the firm’s strategic direction. He added:

With this expanded capital base, we anticipate providing a platform within London to promote the future of decentralized infrastructure, accelerating both our Bitcoin accumulation strategy and our role in driving institutional Bitcoin adoption across Europe.

BTC Adoption Gains Ground In The UK

While the US has taken major steps to establish itself as a global cryptocurrency hub – through initiatives like forming a strategic BTC reserve and rolling out multiple favorable regulations – other countries are beginning to follow suit.

Related Reading: UK Government Looks To Offload $7 Billion Seized Bitcoin – Details

The UK has recently shifted from a historically cautious stance on digital assets. In May, the UK government released draft legislation aimed at establishing a comprehensive regulatory framework for cryptocurrencies.

In a notable political development, Reform UK leader Nigel Farage recently proposed creating a strategic BTC reserve within the Bank of England if elected. He also introduced a bill seeking to reduce capital gains tax on cryptocurrencies from 24% to 10%.

Separately, UK-based gold mining firm Bluebird Mining Ventures recently announced plans to adopt BTC as its primary treasury reserve asset. At press time, BTC trades at $118,339, up 0.6% in the past 24 hours.

bitcoin
Bitcoin trades at $118,339 on the daily chart | Source: BTCUSDT on TradingView.com
Featured image from Unsplash.com, charts from Yahoo! Finance, bitcointreasuries.net, and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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