Satsuma Technology PLC (LSE:SATS) has amassed a Bitcoin holding worth almost £100 million, underscoring its strategy of combining artificial intelligence services with digital asset reserves.
The London-listed group said it held 1,149 Bitcoin, valued at £99.6 million as of 8 August, alongside £54 million of cash and equivalents. The position was bolstered by a £168.9 million fundraising through convertible loan notes completed over the summer.
Henry K Elder, chief executive, described the last two months as “transformative”, adding: “This positions us at the powerful convergence of applied AI and corporate Bitcoin treasuries.”
The company, which is developing AI tools to help businesses manage their balance sheets, said demand for its “subnet” platform was rising and revenues increasing, though it gave no detailed numbers.
Satsuma also restated earlier interim results, adjusting the treatment of development expenditure to bring it into line with accounting standards.