Satsuma Technology PLC
Satsuma Technology PLC (formerly TAO Alpha) is a UK-based company providing Bittensor subnet infrastructure and AI agent services. Adopted a Bitcoin treasury strategy in mid-2025, raising £169M through two convertible loan note offerings, with some subscribers contributing directly in Bitcoin.
BTC Holdings
668.48 BTC
180d
Stock PriceUpdated 16h ago
0.00 GBP▼ 1.75%
180d
Total financing
0.00 GBP
180d
mNAV
0.79x▼ 1.63%
180d
Leverage
0.0%
180d
Sats/Share
5
180d
Mkt capFD
28.96M GBP
SharesFD
12.87B
Fiat reserve
4.35M GBP
Total reserve
40.92M GBP
Dilution
14.9%
Analytics
FinancialsUnverified
IFRSSemi-AnnualAs of 2025-08-31
Balance Sheet
Total Assets£153.4M
Total Liabilities£170.4M
Stockholders' Equity£-17M
Cash & Equivalents£60.5M
Total Debt£169M
Digital Assets£92.5M
Income Statement
Revenue—
Operating Income—
Net Income£-25.9M
Interest Expense—
Cash Flow
Operating Cash Flow—
Instruments
Total
0.00 GBP
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price |
|---|---|---|---|---|---|
| Total | 0.00 GBP | ||||
Recent Changes
Thu, Apr 30, 2026
BTC Holdings
668.484→668.48-0.004 BTC(-0.0%)
Monthly Fact Pack — April 2026 data
Fiat Reserve
6.0M→4.3M-1.6M(-27.4%)GBP
Monthly Fact Pack — April 2026 data
Thu, Apr 23, 2026
BTC Holdings
645.7→668.484+22.784 BTC(+3.5%)
+22.77 BTC acquired for $1.8M / £1.33M; funded from existing fiat reserves
Bitcoin Acquisition (24 Apr 2026 RNS)Thu, Apr 2, 2026
BTC Holdings
620→645.7+25.7 BTC(+4.1%)
+25.65 BTC for £1,384,175 (~£51,939/BTC) from existing fiat reserves
Cost Reduction Programme and Bitcoin PurchaseWed, Apr 1, 2026
Fiat Reserve
11.8M→6.0M-5.8M(-49.2%)GBP
Cost Reduction Programme and Bitcoin Purchase
Tue, Dec 30, 2025
Debt OutstandingRepaymentSATS-Dec25
78.2M→0-78.2M(-100.0%)
Publication of Prospectus
Fri, Dec 19, 2025
Shares Outstanding
472.3M→11.20B+10.73B(+2272.2%)
Publication of Prospectus
Fiat Reserve
60.6M→11.8M-48.8M(-80.5%)GBP
Publication of Prospectus
Thu, Dec 18, 2025
Debt OutstandingConversionSATS-CLN1
5.0M→0-5.0M(-100.0%)
Publication of Prospectus
Debt OutstandingConversionSATS-Dec25
163.9M→78.2M-85.8M(-52.3%)
Derived: £163,949,000 CLN2 principal (interim Note 12) − £85,761,000 CLN2 portion converted (£90,761,000 total CLN1+CLN2 per prospectus, less £5,000,000 = 100% of CLN1)
Publication of ProspectusThu, Dec 11, 2025
BTC Holdings
1.2K→620-579 BTC(-48.3%)
Proposed Board changes and sale of Bitcoin