Satsuma Technology (LSE: SATS.L), a UK-based Bitcoin treasury company, received shareholder approval on July 20 to liquidate its entire Bitcoin holdings and cancel its London Stock Exchange listing. More than 90% of shareholders voted to sell 668 Bitcoin worth approximately $43.5 million. The decision followed a 97% decline in the company's stock value over a year, triggered by Bitcoin's crash from its October all-time high of $126,000, a forced sale of 579 Bitcoin in December to repay noteholders, and the departure of the company's CFO and CEO in the early months of 2026. The liquidation reflects a broader industry trend, with major Bitcoin mining companies including Bitdeer Technologies Group, MARA Holdings, and Cango Inc. selling portions of their BTC holdings in February and March amid the cryptocurrency's decline.
Satsuma Technology Shareholders Approve Bitcoin Liquidation and Delisting
More than 90% of Satsuma Technology shareholders voted to liquidate the company's 668 Bitcoin holdings, valued at approximately $43.5 million, and cancel its London Stock Exchange listing, according to a July 20 filing. The company will return cash assets worth £26.8 million-£30 million to shareholders through the stated process.
The shareholder vote followed a series of events that began with Bitcoin's crash from its October all-time high of $126,000. The price decline forced Satsuma Technology to sell 579 Bitcoin in December to ensure sufficient cash to repay noteholders who chose not to convert their debt into shares by year-end. In the early months of 2026, the company's CFO and CEO left. The company's stock declined 97% in value over a year.
Satsuma Technology's liquidation follows similar moves by other cryptocurrency companies. Bitdeer Technologies Group (Nasdaq: BTDR), one of the largest Bitcoin mining companies, fully liquidated its corporate BTC holdings in February. MARA Holdings (Nasdaq: MARA) sold 15,133 Bitcoin for approximately $1.1 billion in March. Cango Inc. (NYSE: CANG) sold 2,000 Bitcoin in March. Strategy (Nasdaq: MSTR), the largest Bitcoin treasury company, sold Bitcoin twice this year for the first time after 2022: 32 Bitcoin for around $2.5 million between May 26 and May 31, and 3,588 BTC for $216 million between June 29 and July 5.
FAQ
What did Satsuma Technology shareholders vote to do on July 20?
More than 90% of Satsuma Technology shareholders voted to liquidate the company's entire Bitcoin holdings of 668 BTC (approximately $43.5 million) and cancel its London Stock Exchange listing. The company will return £26.8 million-£30 million in cash assets to shareholders.
Why did Satsuma Technology decide to liquidate its Bitcoin holdings?
The liquidation followed a 97% decline in the company's stock value over a year, triggered by Bitcoin's crash from its October all-time high of $126,000. The company was forced to sell 579 Bitcoin in December to repay noteholders, and both the CFO and CEO left in the early months of 2026.
How many other crypto companies have sold Bitcoin this year?
Several major cryptocurrency companies sold Bitcoin holdings this year. Bitdeer Technologies Group liquidated its corporate BTC holdings in February. MARA Holdings sold 15,133 Bitcoin for approximately $1.1 billion in March. Cango Inc. sold 2,000 Bitcoin in March. Strategy sold Bitcoin twice: 32 BTC between May 26 and May 31, and 3,588 BTC between June 29 and July 5.
