Satsuma Technology shareholders voted to return all company capital and cancel the firm's London Stock Exchange listing, making it the latest public Bitcoin treasury to unwind its crypto bet. The company holds 668 BTC worth roughly $43.5 million, making it the UK's second-largest public Bitcoin hoard behind The Smarter Web Company.
The vote to return capital
Shareholders holding more than 20% of the issued capital requested the vote. The tally was decisive: 90.63% voted to return capital and 90.59% voted to cancel the listing. The stock had fallen 99% from its June 2025 high. Pantera Capital Management was among the investors pushing for liquidation.
Other firms trim Bitcoin positions
Satsuma isn't alone in paring back. Sequans sold 970 Bitcoin, about 30% of its holdings, to reduce convertible debt. Empery Digital sold roughly 1,400 BTC, cutting its stack by about 48%. Strategy — the company formerly known as MicroStrategy — released a Digital Credit Capital Framework that allows periodic BTC sales up to $1.25 billion. It sold 3,588 BTC for about $216 million in early July.
The company expects to cancel its listing on September 14 and return proceeds to shareholders by late September. That gives the market about two months to see how the liquidation plays out — and whether other public Bitcoin holders follow suit.
