Satsuma shareholders approve $43.5M Bitcoin liquidation

Satsuma shareholders voted to liquidate 668 BTC worth $43.5M, dissolve the company, and delist from the London Stock Exchange after a sharp decline in share value.

Satsuma Technology shareholders have decisively voted to liquidate the company’s remaining 668 BTC, valued at about $43.5 million, and dissolve the business. This marks the end of Satsuma’s brief tenure as a publicly traded Bitcoin treasury on the London Stock Exchange. Over 90% of votes supported selling all Bitcoin assets and delisting, despite opposition from most board members, who believed Satsuma could still serve as a viable investment vehicle. The decision was driven by the company’s market capitalization falling below the value of its Bitcoin holdings, making direct BTC ownership more attractive than holding Satsuma shares. Originally an AI firm, Satsuma pivoted to Bitcoin treasury management and raised £163.6 million ($218 million) in 2025, backed by major investors. Satsuma previously sold 579 BTC in December 2025 to repay noteholders, signaling the start of its financial decline. The company’s closure highlights a broader trend of digital asset treasury firms winding down after a surge in popularity earlier in 2025.