When Listed Companies Start Stacking Bitcoin: What Satsuma's £163.6M Funding Tell Us About DAT's Momentum

The crypto space just witnessed something worth paying attention to. Satsuma Technology (LSE: SATS), a publicly listed blockchain infrastructure firm, just wrapped up a convertible loan note financing worth approximately £163.6 million—and here’s the kicker: it was oversubscribed by 64%, with portions settled directly in Bitcoin. Not some venture capital move happening in the shadows, but a legitimate London Stock Exchange play that signals something bigger is brewing in how traditional markets are embracing digital asset strategies.

Fineqia International Inc. (CSE:FNQ), a major player in DeFi exchange-traded products, just made an investment into Satsuma Technology as part of its broader Web 3.0 and decentralization tech portfolio. While the investment represents less than 2% of Fineqia’s market cap, the real story isn’t the size—it’s what the move represents about institutional capital migration.

The Bitcoin Treasury Play

Here’s where things get interesting. Satsuma Technology has disclosed holdings of 1,148 BTC, stored through a Singapore-based subsidiary as part of its official treasury policy. With Bitcoin currently trading around $88.82K, we’re talking about serious balance sheet exposure to digital assets among a publicly traded entity. The financing proceeds are earmarked for operational expansion and, crucially, continued Bitcoin treasury development.

This isn’t isolated behavior anymore. The broader market is seeing increased disclosure of Digital Asset Treasury (DAT) activity among listed companies. What used to be fringe is becoming mainstream—corporations openly discussing blockchain allocations in regulatory filings.

The AI Infrastructure Angle

Satsuma Technology isn’t purely a Bitcoin-stacking story. The company has also disclosed work on decentralized artificial intelligence infrastructure via the Bittensor network, including AI agent-driven subnets built on TAO. This is where things converge: traditional finance meets decentralized AI meets cryptocurrency treasury management.

For Fineqia, this intersection matters. By gaining exposure to a publicly listed company straddling DAT activities and AI infrastructure simultaneously, the company is essentially betting on where the next wave of institutional adoption heads.

What This Tells Us About Satsuma Crypto Market Dynamics

The 64% oversubscription rate on Satsuma’s financing round speaks volumes. Institutional investors are clearly hungry for exposure to companies that blend cryptocurrency treasury strategies with emerging AI infrastructure. This is no longer niche hedge fund behavior—it’s becoming standard institutional infrastructure.

As of September 22, 2025, Satsuma Technology’s market capitalization stood at approximately £8.71 million. While relatively modest in traditional market terms, the trajectory of Bitcoin-holding public companies continues upward as regulatory clarity improves and institutional frameworks solidify.

The takeaway: traditional markets are no longer just tolerating crypto exposure. They’re actively structuring around it, and companies like Satsuma Technology are leading the charge by treating digital assets as legitimate strategic treasury reserves rather than speculative sidebets.