Satsuma Shareholders End Bitcoin Treasury Plan with Vote to Sell Remaining BTC

Highlights:

• Satsuma’s Bitcoin Treasury Plan will end after shareholders approved selling the remaining BTC and delisting from the LSE.
• More than 90% of shareholders backed the proposals to sell the remaining Bitcoin and return capital to investors.
• Satsuma expects to distribute up to £30 million to shareholders after selling its Bitcoin and completing the wind-down process.

Satsuma Technologies, a UK-based cryptocurrency finance company, has secured shareholder approval to sell its remaining Bitcoin holdings, return capital to investors, and leave the London Stock Exchange. More than 90% of shareholders voted to approve the Bitcoin sale and delisting plans, according to a company filing released Monday.

LATEST: ⚡ Satsuma Technology shareholders approved plans to sell the firm’s 668 Bitcoin and delist from the London Stock Exchange, less than a year after raising about $218M for its BTC strategy. pic.twitter.com/8bheNtBdUJ

— CoinMarketCap (@CoinMarketCap) July 22, 2026

The approved resolutions allow Satsuma to sell its remaining 668 BTC, worth about $43.5 million, before returning capital to investors. Shareholders also approved Satsuma’s withdrawal from the London Stock Exchange as part of the company’s wind-down. Investors representing more than 20% of Satsuma’s issued capital requested the vote after arguing that returning capital offered better value than keeping the company listed.

The shareholder vote overturned the position of four of Satsuma’s six directors, who wanted the company to remain a listed Bitcoin treasury company. However, the remaining two directors supported the proposal to sell Satsuma’s remaining Bitcoin, return capital to investors, and delist the company. The company expects to sell its remaining 668 BTC in early August before ending its trading activities and preparing for its London Stock Exchange delisting.

Satsuma Bitcoin Treasury Reversal Follows Market Losses

Satsuma operated as TAO Alpha before rebranding from an artificial intelligence company into a Bitcoin treasury company. The company appointed Bitcoin commentator Mark Moss as chief Bitcoin strategist in August last year to support its new treasury strategy.

During August, Satsuma raised £163.6 million through convertible notes led by ParaFi Capital. Pantera Capital, Digital Currency Group, Kraken, and other investors joined the funding round. Investors also contributed 1,097 BTC instead of nearly $97 million in cash.

Satsuma’s shares climbed to about £14 in June last year as investors backed its Bitcoin treasury strategy. Bitcoin later reached its record high of $126,000 before entering a prolonged decline that weakened Satsuma’s treasury strategy. The market downturn sharply reduced Satsuma’s share price. By April this year, the stock had lost more than 99% of its value.

Satsuma sold 579 BTC for £40 million in December to repay noteholders who declined to convert their debt into shares. The December Bitcoin sale reportedly created friction with Pantera Capital and other investors because they later pushed for a full liquidation.

Satsuma Moves Ahead With Investor Payout Plan

Satsuma expects to return between £26.8 million and £30 million after paying about £2.7 million in legal, severance, delisting, and other closure costs. Convertible noteholders will receive payment before ordinary shareholders because they rank higher in Satsuma’s repayment structure. The UK High Court will hold hearings in August and September to approve Satsuma’s planned capital return. Satsuma expects to complete its London Stock Exchange delisting in mid-September before distributing shareholder payments later that month.

Satsuma joins other listed companies that have recently reduced or abandoned their Bitcoin treasury strategies as market conditions changed. K Wave disclosed on June 30 that it had sold its remaining Bitcoin after abandoning a treasury plan that once targeted one of the largest corporate Bitcoin reserves.

South Korean DAT Firm Exits Bitcoin After Once Touting 10,000-BTC Target

K Wave Media, a Nasdaq-listed Korean media and entertainment company, has sold its remaining 88 BTC to repay USD 6 million in debt, reducing its Bitcoin holdings to zero and exiting the Bitcoin treasury… pic.twitter.com/ls5f3flfeW

— Wu Blockchain (@WuBlockchain) July 2, 2026

Empery Digital sold 1,400 BTC for more than $87 million to finance an artificial intelligence data center investment and reduce debt. Meanwhile, The Smarter Web Company continues holding 2,878 BTC, making it the largest UK-listed Bitcoin treasury company.