REG - Satsuma Tech PLC - Interim Results to 8 August 2025
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RNS Number : 3436X Satsuma Technology PLC 01 September 2025
01 September 2025
Satsuma Technology Plc
('Satsuma' or the 'Company')
Unaudited Interim Results
for the Period 1 June 2025 to 8 August 2025
Satsuma Technology PLC (LSE: SATS), a public company pioneering the
convergence of decentralised AI and Bitcoin treasury management, today
announces unaudited interim financial statements for the period from 1 June
2025 to 8 August 2025. Restated interim financial statements for the three
months ended 31 May 2025 are also included, which supersede the financial
statements released on 10 July 2025*.
In light of the significant proceeds received from its recent fundraising and
given the Company's leadership in emerging asset classes, the Board has
determined that it is appropriate to provide more frequent financial
disclosure than the statutory minimum. The release of these interim statements
outside the ordinary reporting cadence is therefore intended to give investors
clear visibility on the Company's financial position, balance sheet strength
and treasury holdings.
Highlights:
* £168.9 million raised via Convertible Loan Notes during the period, providing
significant capital to support the growth strategy and demonstrating
institutional investor support
* Treasury holdings include 1,148.647 BTC, valued at approximately £99.6
million as at 8 August 2025, plus cash and cash equivalents of approximately
£54.0 million
* Higher utilisation of the subnet and increasing revenues
* Significant progress made in establishing the highest standards of
infrastructure and governance, with a renewed commitment to investor
transparency
Henry K. Elder, CEO, commented:
"The last two months have been transformative for Satsuma, culminating in our
milestone £164m capital raise. This positions us at the powerful convergence
of applied AI and corporate Bitcoin treasuries. Our real-time AI agents are
already delivering critical intelligence for institutional treasury
management, a capability directly strengthened by our own growing Bitcoin
treasury.
Our focus now is clear: to scale our infrastructure and execute the next phase
of our capital plan, cementing our position as the undisputed institutional
leader in London and beyond."
*Along with the 8 August 2025 figures, these results include a restatement of
the Company's interim financial statements for the three months ended 31 May
2025, originally published on 10 July 2025. In the unaudited interim results
released on 10 July 2025 for the three months ended 31 May 2025, the IP was
originally presented as a revaluation adjustment. These interim figures have
now been amended to reflect a reversal of impairment, consistent with the
recognition of cumulative development expenditure and the subsequent
reassessment of recoverable amount at £2.157 million. The amended interim
disclosures therefore align with the Company's accounting policy and IFRS
requirements and should be read as superseding the original publication.
Enquiries:
Satsuma Technology PLC Tel: +44 (0)20 3855 8888
Matt Lodge, Chairman
Yellow Jersey PR
Charles Goodwin / Annabelle Wills Tel: +44 (0)7747 788 221 / +44 (0)7775 194 357
First Sentinel Corporate Finance Limited - Financial Adviser
Brian Stockbridge Tel: +44 (0) 20 3855 5551
Fortified Securities - Broker
Guy Wheatley Tel: +44 (0) 7493 989014
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD FROM 1 JUNE 2025 TO 8 AUGUST 2025
Unaudited Unaudited Audited
Period 1 June 2025 to 8 August 2025 3 months ending Year ending
31 May 2025 28 Feb 2025
Notes £'000 £'000 £'000
Continuing Operations
Revenue 9 1 1
Cost of Sales - - -
Gross Profit 9 - 1
Administrative expenses (8,767) (116) (709)
Reversal of impairment - 2,157 -
Operating loss (8,758) (2,042) (708)
Finance Income - - -
Finance Costs - - -
Foreign Currency Gain/(loss) (382) - -
Fair Value Gains - 375 -
Revaluation loss on cryptocurrencies (1,237) - -
Loss before taxation (10,377) 2,417 (708)
Taxation on loss of ordinary activities - - -
Loss for the period from continuing operations (10,377) 2,417 (708)
6
Other comprehensive income (21) - -
Total comprehensive loss for the period attributable to shareholders from
continuing operations
(10,398) 2,417 (708)
4
Basic & dilutive earnings per share - pence (2.23) 0.53 (0.18)
The notes form an integral part of the condensed interim financial statements.
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 8 AUGUST 2025
Unaudited Unaudited Audited
As At As at As At
8 August 2025 31 May 2025 28 Feb 2025
Notes £'000 £'000 £'000
NON-CURRENT ASSETS
Intangible assets 5 101,760 2,190 2,202
Investments 6 625 625 250
TOTAL NON-CURRENT ASSETS 102,385 2,815 2,452
CURRENT ASSETS
Cash and cash equivalents 54,043 6 31
Trade and other receivables 7 7,574 19 25
TOTAL CURRENT ASSETS 61,617 25 56
TOTAL ASSETS 164,002 2,840 2,507
EQUITY
Share capital 8 528 454 454
Share Premium 8 6,020 4,904 4,880
Share Based Payment Reserve 9 426 743 743
Revaluation Reserve 9 12 33 45
Other reserves 47 - -
Retained Earnings (13,878) (3,818) (4,078)
TOTAL EQUITY (6,845) 2,316 (2,043)
CURRENT LIABILITIES
Trade and other payables 10 1,898 524 464
Financial Liabilities FVTPL 11 168,949 - -
TOTAL CURRENT LIABILITIES 170,847 524 464
TOTAL LIABILITIES 170,847 524 464
TOTAL EQUITY AND LIABILITIES 164,002 2,840 2,507
The notes form an integral part of the condensed interim financial statements.
The condensed interim financial statements were approved and authorised by the
Board of Directors on 28 August 2025 and were signed on its behalf by:
Henry K. Elder
Director
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD FROM 1 JUNE 2025 TO 8 AUGUST 2025
Share Capital Share Premium Share based payment reserve Revaluation Reserve Other reserves Retained Earnings Total Equity
£'000 £'000 £'000 £'000 £'000 £'000
Balance at 1 March 2024 379 4,880 705 - - (5,527) 437
Profit (Loss) for period - - - - (708) (708)
Other comprehensive income - - - - - -
Total comprehensive income for year - - - - (708) (708)
Transactions with owners in own capacity:
Ordinary shares issued 75 - - - - 75
Share based payments - - 38 - - 38
Changes in reserves - - - 45 - - 45
Total transactions with owners in own capacity 75 - 38 45 - - 158
Balance at 28 February 2025 454 4,880 743 45 - (6,235) (113)
Profit (Loss) for period - - - - 2,417 2,417
Other comprehensive income - 24 - - - 24
Total comprehensive income for year - 24 - - 2,417 2,441
Transactions with owners in own capacity:
Ordinary shares issued - - - - - -
Share based payments - - - - - -
Changes in reserves - - - (12) - - (12)
Total transactions with owners in own capacity - - - (12) - - (12)
Balance at 31 May 2025 454 4,904 743 33 - (3,818) 2,316
Profit (Loss) for period - - - - - (10,377) (10,377)
Other comprehensive income - - - (21) - - (21)
Total comprehensive income for period - - - (21) - (10,377) (10,398)
Transactions with owners in own capacity:
Ordinary shares issued 74 1,116 - - - - 1,190
Exercise of warrants (317) - 317 -
Changes in reserves - - - - 47 - 47
Total transactions with owners in own capacity 74 1,116 (317) - 47 317 1,237
Balance at 8 August 2025 528 6,020 426 12 47 (13,878) (6,845)
CONDENSED CONSOLIDATED STATEMENT OF CASHFLOWS
FOR THE PERIOD FROM 1 JUNE 2025 TO 8 AUGUST 2025
Unaudited Unaudited Audited
Period 1 June 2025 to 8 August 2025 3 months ending 31 May 2025 12 month period ended
28 Feb 2025
£'000 £'000 £'000
Cash flow from operating activities
(Loss)/gain for period (10,398) 2,417 (707)
Adjustments for:
Impairment/(reversal) - (2,157) 45
Fair value gain on investment (FVTPL) - (375) -
Revaluation of Cryptocurrencies 1,258 - -
Services settled by issue of warrants 266 - 39
Fees settled through CLN issue 6,174 - -
Changes in working capital:
Decrease / (Increase) in trade and other receivables (65) 6 30
Increase / (decrease) in trade and other payables 1,374 60 279
Net cash used in operating activities (1,391) (49) (314)
Cash flows from investing activities
Purchase of intangible assets (4,500) - (45)
Investments - - (250)
Net cash flow from investing activities (4,500) - (295)
Cash flows from financing activities
Share issue, net of issue costs 948 25 75
Cash proceeds from Issue of Convertible Loan Notes 58,885 - -
Net cash flow from financing activities 59,833 25 -
Net (decrease) in cash and cash equivalents 53,942 (24) (534)
Cash and cash equivalents at beginning of the period 7 31 565
Foreign exchange impact on cash 94 - -
Cash and cash equivalents at end of the period 54,043 7 31
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
FOR THE 3 MONTH PERIOD ENDING 31 MAY 2025
1 General information
Satsuma Technology Plc (formerly TAO Alpha Plc) is a public limited company
incorporated in England and Wales and domiciled in the United Kingdom. The
registered office and principal place of business is 9(th) Floor, 16 Great
Queen Street, London WC2B 5DG. The Company was incorporated on 19 March 2021.
On 02 July 2025, the Company announced its intention to change its name to
Satsuma Technology PLC (Ticker SATS). The Company's TIDM has changed from
"TAO" to "SATS". The Company's website has been changed
to www.satsuma.digital.
The Company's principal activity is that of a global AI-focused software
development company which utilises TAO Bittensor Subnet technology to maximise
the reach and scope of the developments. It is led by a team experienced in
this sector and in the development of technology businesses. Furthermore, the
recently announced Convertible Loan Facility provides the working capital
required to execute this strategy and, at the same time, allows the company to
implement a Bitcoin Treasury Management strategy. The Company is based in UK
and its shares are listed on the Main Market of the London Stock Exchange
(LSE: SATS).
2 Accounting policies
IAS 8 requires that management shall use its judgement in developing and
applying accounting policies that result in information which is relevant to
the economic decision-making needs of users, that are reliable, free from
bias, prudent, complete and represent faithfully the financial position,
financial performance and cash flows of the entity.
Details of the Group's Accounting Policies can be found in the audited annual
financial statements ("annual financial statements") for the year ended 28(th)
February 2025.
2.1 Basis of preparation
The condensed consolidated interim financial statements ("interim financial
statements") have been prepared in accordance with International Accounting
Standard 34 "Interim Financial Reporting" (IAS 34) as adopted by the European
Union (EU). The interim financial statements have been prepared on the
historical cost basis, except for assets and liabilities measured at fair
value through profit and loss, and are presented in pounds sterling (£). All
amounts have been rounded to the nearest £'000, unless otherwise stated.
During the period a new subsidiary entity, Satsuma Technology Pte Ltd was
incorporated in Singapore for the purposes of supporting the Group's treasury
operations in a tax and regulatorily favourable jurisdiction. Satsuma
Technology Pte Ltd is a wholly owned subsidiary of Satsuma Technology Plc, and
its results have been consolidated in accordance with applicable accounting
standards. The figures for the period represent the consolidated results for
the period since the incorporation of the subsidiary to and at the Balance
Sheet date.
The interim financial statements have not been audited. The interim financial
statements do not constitute statutory accounts within the meaning of section
434 of the Companies Act 2006. The figures have been prepared using applicable
accounting policies and practices consistent with those adopted in the audited
annual financial statements ("annual financial statements") for the year ended
28(th) February 2025.
The interim financial statements are for the period from 1 June 2025 to 8
August 2025, being three months from the financial year end for the Company
being 28 February 2025. The interim financial statements do not include all
the information and disclosures required in the annual financial statements
and should be read in conjunction with the Company's annual financial
statements for the period ended 28 February 2025. The Company has disclosed
comparative data for the period from 1(st) March 25 to 31 May 2025, as well as
audited figures from the annual financial statements.
The functional currency for the Company is determined as the currency of the
primary economic environment in which it operates. Both the function and
presentational currency of the Company Pounds Sterling (£).
The business is not considered to be seasonal in nature.
New standards, amendments and interpretations adopted by the Company
During the current period the Company adopted all the new and revised
standards, amendments and interpretations that are relevant to its operations
and are effective for accounting periods beginning on 1 March 2025. This
adoption did not have a material effect on the accounting policies of the
Company.
New standards, amendments and interpretations not yet adopted by the Company
The standards and interpretations that are relevant to the Company, issued,
but not yet effective, up to the date of these interim financial statements
have been evaluated by the directors and they do not consider that there will
be a material impact of transition on the financial statements.
2.2 Risks and uncertainties
The principal risks and uncertainties relevant to the Company have not changed
materially since the release of the annual financial statements for the period
ending 28 February 2025. These risks can be referenced in the strategic report
contained within the annual financial statements which were released on 27
June 2025 and are available on the Company's website.
3 Critical accounting estimates and judgements
In the application of the Company's accounting policies, the directors are
required to make judgements, estimates and assumptions about the carrying
amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual
results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis.
Revisions to accounting estimates are recognised in the period in which the
estimate is revised, if the revision affects only that period, or in the
period of the revision and future periods if the revision affects both current
and future periods. The areas involving a higher degree of judgement or
complexity, or areas where assumptions and estimates are significant to the
financial statements, are disclosed below:
Share Based Payments
The Company measures the cost of equity-settled transactions by reference to
the fair value of the equity instruments at the date at which they are
granted. The fair value is determined by using the Black-Scholes model taking
into account the terms and conditions upon which the instruments were granted.
The accounting estimates and assumptions relating to equity-settled
share-based payments would have no impact on the carrying amounts of assets
and liabilities within the next annual reporting period but may impact profit
or loss and equity. There have been no dilutive instruments issued in the
period and the value remains equal to that in the annual financial statements
as at the last reporting period.
Intangible Assets
Cryptocurrencies
The Company holds significant balance in cryptocurrencies (as detailed in note
5. The accounting for cryptocurrencies is an area that involves judgement, as
there is currently no specific IFRS that directly addresses their treatment.
The Group has determined that its cryptocurrency holdings meet the definition
of intangible assets under IAS 38 Intangible Assets, as they are identifiable
non-monetary assets without physical substance and are not financial
instruments. Management has assessed that the cryptocurrencies are not held
for sale in the ordinary course of business and therefore are not classified
as inventory under IAS 2.
Where the is no observable market for the cryptocurrency held, the
cryptocurrencies are initially recognised at cost and subsequently measured at
cost less any accumulated impairment losses, as there is no reliably
observable active market that would justify the use of a revaluation model
under IAS 38. Impairment testing is performed at each reporting date, and this
involves estimation of the recoverable amount, typically determined with
reference to observable market prices. Impairment losses cannot be reversed
under IAS 38, even if the fair value of the cryptocurrency subsequently
recovers. Management continues to monitor industry guidance and regulatory
developments that may impact the accounting treatment of cryptocurrencies.
Where an active market exists for a particular cryptocurrency held by the
company, the company initially recognises the asset at cost and subsequently
applies a revaluation model. Increases are recognised in Other Comprehensive
Income and accumulated in the Revaluation Reserve, except to the extent that
they reverse a revaluation decrease on the same asset previously recognised in
profit or loss. Decreases in carrying amounts are recognised in profit and
loss except to the extent that they reverse previous upward revaluations
recognised in equity.
The determination of whether an active market exists for a particular
cryptocurrency involves judgement, including an assessment of trading volume,
bid/ask spread, and market participant activity.
4 Earnings per share
The basic earnings per share is calculated by dividing the profit/(loss)
attributable to equity shareholders by the weighted average number of shares
in issue.
Unaudited At Unaudited At Audited At
8 August 2025 31 May 2025 28 Feb 2025
Loss for the period from continuing operations (£'000) (10,398) 2,417 (708)
Weighted average number of ordinary shares in issue 465,537,050 454,210,796 399,075,001
Basic and diluted earnings per share for continuing operations (pence) (2.23) 0.53 (0.18)
The Company had in issue 66,052,333 warrants at 8 August 2025. The profit
attributable to equity holders and weighted average number of ordinary shares
for the purposes of calculating diluted earnings per ordinary share are
identical to those used for basic earnings per ordinary share. This is because
the exercise of warrants and options would have the effect of reducing the
loss per ordinary share and is therefore anti-dilutive.
5 Intangible assets
At 8 August 2025
Intangible asset Type Opening Balance Additions Revaluations Closing balance
£'000 £'000 £'000 £'000
Intellectual Property 2,157 - - 2,157
Cryptocurrencies 33 100,828 (1,258) 99,603
Total 2,190 100,828 (1,258) 101,760
At 31 May 2025
Intangible asset Type Opening Balance Additions Revaluations Closing balance
£'000 £'000 £'000 £'000
Intellectual Property - - 2,157* 2,157
Cryptocurrencies 45 - (12) 33
Total 45 - 2,145 2,190
At 28 February 2025
Intangible asset Type Opening Balance Additions Revaluations Closing balance
£'000 £'000 £'000 £'000
Intellectual Property - - - -
Cryptocurrencies - 1 44 45
Total - 1 44 45
* The Company initially acquired the core intellectual property (IP) from
Flatiron for a consideration of £52,000. Subsequent development and
enhancement activities were carried out through the engagement of external
developers and technical consultants, with costs settled through a combination
of GBP cash payments and equity-settled share issues.
In line with the Company's stated accounting policies and the requirements of
IAS 38 Intangible Assets and IAS 36 Impairment of Assets, this expenditure
should have been recognised as an intangible asset on initial capitalisation
and immediately impaired to nil, reflecting the absence of demonstrable future
economic benefits at the time of recognition. This adjustment represents the
proper application of the Company's original accounting policy, but does not
affect the audited financial statements for the year ended 28 February 2025,
which remain unchanged.
In the unaudited interim results released on 10 July 2025 for the three months
ended 31 May 2025, the IP was originally presented as a revaluation
adjustment. These interim figures have now been amended to reflect a reversal
of impairment, consistent with the recognition of cumulative development
expenditure and the subsequent reassessment of recoverable amount at £2.157
million. The amended interim disclosures therefore align with the Company's
accounting policy and IFRS requirements and should be read as superseding the
original publication.
At 8 August 2025 the Group held the following Cryptocurrencies in Treasury:
Cryptocurrency Number Fair Value at 8 August 2025
Bitcoin (BTC) 1,148.647 £99,590,960
AROK Tokens 50,000,000 £12,022
£99,602,982
6 Investments
Unlisted Investments 8 August 2025 31 May 2025 28 Feb 2025
£'000 £'000 £'000
Roundhouse Digital 625 625 250
625 625 250
During the 3-month period ended 31(st) May 2025, the Company reassessed the
fair value of its investment in Roundhouse Digital, an unlisted entity in
which the Company holds approximate holdings of 17% equity interest. Based on
updated financial information and recent comparable market transactions, the
fair value of the investment increased by £375k. The gain of £375k has been
recognised in the condensed consolidated statement of profit or loss under
'Other Comprehensive Income'.
As a result, the carrying amount of the investment was adjusted from £250K to
£625K as at 31 May 2025.
There have been no disposals or transfers related to this investment during
the period.
The investment is classified as a Level 3 instrument due to the use of
unobservable inputs in the valuation model.
7 Trade and other receivables
Unaudited At Unaudited At Audited At
8 August 2025 31 May 2025 28 Feb 2025
£'000 £'000 £'000
Prepayments 6 7 11
VAT 80 9 14
Other receivables 7,488 3 -
Total trade & other receivables 7,574 19 25
Other receivables represent funds owing to the Company at the 8 August 2025
under the Convertible Loan notes issued in August (CLN 2) and have been
received subsequent to the Balance Sheet date.
8 Share capital and share premium
Ordinary Share Share
Shares Capital Premium Total
# £'000 £'000 £'000
At 28 February 2025 453,732,535 454 4,880 5,334
Issue of share capital 500,000 - 24 24
At 31 May 2025 454,232,535 454 4,904 5,358
Issue of share capital 73,567,665 74 1,116 1,190
At 8 August 2025 527,800,200 528 6,020 6,548
9 Share based payments and other reserves
The following warrants over ordinary shares have been granted by the Company
and are outstanding at 8 August 2025:
Grant date Expiry date Exercise price Exercisable at 31 May 2025
18 October 2021 04 January 2026 £0.01 6,700,000
05 January 2023 04 January 2026 £0.06 45,499,000
05 January 2023 04 January 2028 £0.03 5,020,000
26 June 2023 27 June 2026 £0.025 3,333,333
21 November 2024 20 November 2027 £0.002 500,000
04 February 2025 03 February 2028 £0.01 5,000,000
66,052,333
Share based payments Reserve As at As at As at
8 August 2025 31 May 2024 28 Feb 2025
£'000 £'000 £'000
Opening balance 743 743 704
Warrants issued in the period - - 39
Warrants exercised in the period (317) - -
Balance at the end of the period 426 743 743
During the period a number of warrants were exercised as detailed in the table
below:
Exercise date Exercise price Number of warrants exercised
24 June 2025 £0.025 16,666,665
9 July 2025 £0.03 1,400,000
12 July 2025 £0.01 15,000,000
12 July 2025 £0.06 4,501,000
25 July 2025 £0.002 20,000,000
25 July 2025 £0.02 11,000,000
25 July 2025 £0.01 5,000,000
73,567,665
The fair value of the share warrant rights granted are valued using the
Black-Scholes option pricing model. The option pricing model assumptions can
be referenced in the annual financial statements.
10 Trade and other payables
Unaudited At Unaudited At Audited At
8 August 2025 31 May 2025 28 Feb 2025
£'000 £'000 £'000
Trade creditors 1,880 347 311
Accruals 18 177 152
Social security and other taxation - - 1
Total trade & other payables 1,898 524 464
The directors consider that the carrying value of trade and other payables is
approximately equal to their fair value.
11 Convertible Loan Notes and Warrants
During the period two Convertible Loan Notes were issued ("CLN1" and "CLN2")
that are classified as Financial Liabilities at fair value the profit and loss
(FVTPL) in accordance with IFRS 9. Details of the Loan Notes are as follows:
CLN1
On 17 June 2025 £5,000,000 in fixed price convertible Loan Notes were issued.
The notes are non-interest bearing and convertible at £0.002 per share upon
shareholder and regulatory approval by 30 September 2025. The loan notes
mature on 30 December 2025 if an automatic conversion has not occurred. The
loan notes are secured by first ranking debenture.
Under the terms of CLN1, note holders were given the right to be issued
warrants ("Seed Warrants") should a subsequent Convertible Loan Note issue,
CLN2, raise in excess of £100m, details of which are set out within the Seed
Warrants section below.
The entire £5m proceeds have been allocated to derivative financial
liabilities measured at fair value through the profit and loss. All
transaction costs have been expensed immediately to the income statement as
required under IFRS 9.
CLN2
On 28 July 2025 £163,949,000 in fixed price convertible Loan Notes were
issued. The notes are non-interest bearing and convertible at £0.01 per
share upon shareholder and regulatory approval by 30 September 2025. The loan
notes mature on 30 December 2025 if an automatic conversion has not
occurred. The loan notes are secured by first ranking debenture.
The entire £163,949,000 proceeds have been allocated to derivative financial
liabilities measured at fair value through the profit and loss. All
transaction costs have been expensed immediately to the income statement as
required under IFRS 9.
Seed Warrants
Following the successful completion of CLN2, CLN1 holders were entitled to
1,591,560 Seed Warrants to subscribe for shares at £0.002 per share. These
warrants were yet to be issued at the Balance Sheet date. Prior to completion
of CLN2, the number of Seed Warrants to be issued was unknown, and as such
could not be reliably valued. As a result, no amounts were recognised in the
accounts in relation to these warrants at the time of the CLN1 issue. As no
new consideration was given for these warrants when issued, no warrant reserve
has been recognised in equity.
The following amounts are recognised at the balance sheet date as financial
liabilities FVTPL:
Unaudited At Unaudited At Audited At
8 August 2025 31 May 2025 28 Feb 2025
£'000 £'000 £'000
CLN1 5,000 - -
CLN2 163,949 - -
Total trade & other receivables 168,949 - -
12 Financial commitments & contingent liabilities
There were no capital commitments or contingent liabilities pertaining to the
Company at 8 August 2025.
About Satsuma Technology PLC (LSE: SATS)
Satsuma Technology PLC is a London-listed public company pioneering the
convergence of decentralised artificial intelligence and Bitcoin treasury
management. The Company develops and operates decentralised AI infrastructure,
including participation in Bittensor subnets, while applying a treasury-first
model that aligns its balance sheet with Bitcoin, the world's most secure
monetary network.
Through this dual focus, Satsuma aims to capture value from both sides of the
digital transformation: the growth of AI-driven networks and the resilience of
digital hard money. The Company is headquartered in London with treasury
operations supported in Singapore, and is committed to setting new standards
of transparency in emerging asset classes by providing frequent financial
disclosures.
Website: www.satsuma.digital (http://www.satsuma.digital)
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