Satsuma Raises $218M With $125M in Bitcoin to Expand BTC Treasury

London-listed tech firm Satsuma Technology has locked in 163,660,000 British pounds ($217.6 million) in gross proceeds from its second convertible loan note round, with nearly $125 million settled in Bitcoin, to boost its Bitcoin treasury strategy.

The raise, which closed on July 28, overshot its minimum $129 million target by more than 63%, driven by strong interest from crypto-native and traditional institutional investors, the company said in a Wednesday announcement.

“This moment represents a landmark validation of our core belief: that fusing a…