Satsuma Technology to Liquidate Bitcoin Holdings Following Shareholder Approval for Capital Return

Satsuma Technology to Liquidate Bitcoin Holdings Following Shareholder Vote

In a significant turn of events, Satsuma Technology, a London-listed firm once poised to become one of the UK’s largest publicly traded Bitcoin treasuries, is set to shut down and liquidate its holdings. This decision comes after shareholders overwhelmingly backed a capital return plan, as revealed in a company filing on Monday.

The vote, which saw over 90% of shareholders in favor, marks the end of Satsuma’s brief foray into the cryptocurrency market. The company’s share price plummeted by more than 99% since its peak in June 2025, prompting investors to demand their capital back. As part of the plan, Satsuma will sell its remaining Bitcoin assets, return nearly all of its capital, and delist from the London Stock Exchange.

While the shareholder approval is a significant step, the capital return is contingent upon the approval of the UK High Court. A final hearing is scheduled for September 8, with the company anticipating its listing cancellation on September 14. Payments to shareholders are expected to be completed by September 28.

Satsuma’s ambitious Bitcoin strategy, which began less than a year ago, has faced numerous challenges. In August 2025, the company raised approximately £163.6 million (around $218 million) through convertible notes, backed by notable investors such as Pantera Capital and Digital Currency Group. However, the subsequent decline in Bitcoin’s value led to a drastic reevaluation of its strategy.

In December, Satsuma sold 579 BTC to repay noteholders who opted not to convert their debt into shares, a move that highlighted the company’s struggles amid a volatile market. The decision to liquidate comes after a split within the board, with four of the six directors advocating for a continued listing as a Bitcoin treasury vehicle, while two supported the liquidation.

As Satsuma Technology prepares for its final chapter, the company’s journey serves as a cautionary tale in the unpredictable world of cryptocurrency investments. With the looming court approval and the impending return of capital to shareholders, all eyes will be on the company’s next steps in the coming weeks.