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Satsuma Technology Liquidates Bitcoin Holdings, Returns £31.9 Million to Shareholders
Satsuma Technology PLC, a company listed on the London Stock Exchange, has sold its entire Bitcoin holdings, amounting to 669.4867 BTC, generating £31.9 million. This decision follows an overwhelming vote by shareholders on July 20, 2026, to wind down the company's Bitcoin treasury strategy, despite opposition from a majority of the board. The liquidation occurred between July 24 and July 31, 2026, with an average sale price of £47,667 per Bitcoin.
The High Court approved the capital reduction on September 8, 2026, allowing eligible shareholders to receive approximately £0.002734 per Class B share, with payments expected to be completed by September 28, 2026. This marks a rapid conclusion to Satsuma's venture into the Bitcoin treasury space, which began in 2025 when the company raised £163.6 million through a convertible note round and initially held around 1,199 BTC.
Satsuma's trajectory highlights the volatility and risks associated with corporate Bitcoin strategies. The company's share price peaked at approximately £14 in mid-2025 but subsequently fell over 99%, influencing shareholder sentiment towards liquidation. The swift transition from fundraising to liquidation within a year underscores the challenges faced by publicly listed companies attempting to navigate the cryptocurrency market. Following the final distribution, Satsuma will be delisted, marking the end of its Bitcoin experiment.
Source: KLEA News