Satsuma Technology is set to liquidate its Bitcoin holdings and exit the market after shareholder approval, following significant financial losses.
Satsuma Technology to Liquidate Bitcoin Assets
Satsuma Technology, a U.K.-based Bitcoin treasury firm, has secured overwhelming shareholder approval to liquidate its Bitcoin holdings, totaling 668 BTC, and to delist from the London Stock Exchange. Over 90% of votes were in favor of the measures despite opposition from some board members.
The decision concludes Satsuma's shorter-than-expected venture into Bitcoin treasury management, which began less than a year ago. While the company had raised £163.6 million in August 2025, it estimates that only £26.8 million to £30 million will be returned to shareholders after accounting for wind-down costs totaling £2.7 million.
Initially launched as TAO Alpha, Satsuma pivoted to focus on Bitcoin and appointed Mark Moss, a well-known Bitcoin strategist, as Chief Bitcoin Strategist in August 2025. The company previously secured £163.6 million through convertible notes, with direct contributions of 1,097 BTC as investors opted for cryptocurrency over cash investment options.
Business Downturn and Liquidation Plan
The firm experienced a rapid decline, with its stock price dropping over 99% from its peak within a year. The significant downturn in Bitcoin prices, which peaked at $126,000 in October before falling, adversely affected Satsuma's market value.
As the company struggled financially, it began liquidating assets, including a sale of 579 BTC for £40 million to stabilize liquidity. Following the resignation of key executives, a shareholder group representing over 20% of the capital called for liquidation, ultimately resulting in this decision.
The liquidation will follow a U.K. legal framework for asset distribution, and hearings to approve the capital return are anticipated in August and September 2026. Shareholders are expected to receive payments by late September, although priority will be given to convertible note holders, potentially leaving common shareholders with less than expected.
