- Satsuma shareholders voted to liquidate the company and sell its remaining 668 BTC.
- The company raised £163.6 million ($218 million) in 2025 but expects to return only £26.8–30 million after winding down.
- The move ends one of the UK's largest Bitcoin treasury experiments less than a year after it began.
Satsuma Technology is shutting down its Bitcoin treasury strategy after shareholders overwhelmingly voted to liquidate the company, sell its remaining Bitcoin holdings, and delist from the London Stock Exchange. More than 90% of votes supported the proposal, despite most of the company's board opposing the decision.
The company currently holds 668 BTC, worth approximately $43.5 million, after previously selling 579 BTC late last year to raise cash and remain solvent. Satsuma, formerly known as TAO Alpha, raised £163.6 million ($218 million) in August 2025 through convertible notes backed by investors including ParaFi Capital, Pantera Capital, Digital Currency Group, and Kraken.
The company's fortunes quickly reversed as Bitcoin and the broader crypto market entered a prolonged downturn. Satsuma's share price eventually fell more than 99%, prompting shareholders to push for liquidation after the company's market value dropped well below the value of the Bitcoin on its balance sheet. Following liquidation costs, Satsuma expects to return only £26.8–30 million to shareholders, with the wind-down expected to be completed by September 2026.
