Satsuma Sells 579 BTC for $53M, Eyes LSE Uplisting and Board Shakeup

Satsuma Technology sold 579 of its 1,199 Bitcoin for $53.2 million to ensure liquidity for a £78 million loan repayment, ahead of a planned London Stock Exchange uplisting. The company also announced board changes.

Satsuma Technology, a UK-based company, sold 579 of its 1,199 Bitcoin holdings, raising approximately £40 million ($53.2 million) in net proceeds. The sale was made to ensure sufficient liquidity to meet a £78 million repayment obligation on convertible loan notes due December 31, 2025, as some noteholders have not yet committed to converting their debt into equity during the company’s planned uplisting to the London Stock Exchange’s main market. After the sale, Satsuma retains 620 BTC and about £90 million in cash. Alongside the transaction, Satsuma announced significant board changes, including proposed new appointments and a resignation, aimed at strengthening governance as the company transitions to a public market. The company’s shares rose slightly after the announcement but remain down nearly 30% over the past month. Satsuma now ranks as the 61st largest publicly traded bitcoin holder. The move reflects a strategic approach to balancing digital asset investment with financial stability as Satsuma prepares for its uplisting, pending regulatory approval.