Falling prices, debt obligations, and challenging market conditions are forcing public companies to sell off their Bitcoin holdings. According to Matthew Sigel, head of digital assets at VanEck, dozens of organizations have fully or partially liquidated their crypto reserves.
List of DATs who have abandoned Bitcoin and crypto accumulation strategies since:
🔴 Full Liquidations / Complete Exits
— matthew sigel, recovering CFA (@matthew_sigel) July 23, 2026
Satsuma Technology (SATS LN) — Shareholders voted on July 21, 2026 (>>90% approval) to liquidate all 668 BTC (~$43.5M), return capital to investors, and delist… https://t.co/JEDlsnbjEJ
The expert emphasized that firms are restructuring their businesses and shifting towards artificial intelligence.
Shareholders of Satsuma Technology voted to sell all 668 BTC and delist from the London Stock Exchange. Sequans Communications has nearly completely sold off its cryptocurrency to pay down debts, with management announcing a definitive exit from digital asset purchases.
Miners are also changing their development focus. In February, Bitdeer reported selling all mined and held coins. Concurrently, the company continued transitioning its operations towards AI infrastructure and colocation.
In March, MARA announced the sale of 15,133 BTC for approximately $1.1 billion to repurchase convertible bonds. The miner stated it may selectively buy or sell Bitcoin depending on market conditions and capital allocation priorities.
The crisis has also hit Nakamoto Inc. The company's stock plummeted by 99% after going public. Management sold over 320 BTC to bolster working capital, with about 70% of Nakamoto's remaining reserves frozen as collateral for a loan from Kraken exchange, due for repayment in December 2026.
Additionally, from May 26 to July 5, the largest corporate holder of the first cryptocurrency, Strategy, sold 3,620 BTC: first 32 BTC for preferred stock payments, then another 3,588 BTC to replenish its dollar reserves. As of this writing, the company holds 843,775 BTC on its balance sheet.
It’s worth noting that since the peak of digital gold in October, when it exceeded $126,000, the assets of cryptocurrency treasuries have decreased by more than a third.