Shareholders Force Satsuma To Liquidate Bitcoin Treasury

Satsuma Technology Plc is officially winding down its crypto operations after an overwhelming shareholder revolt. More than ninety percent of votes cast went against the board of directors, approving a capital return and the delisting of the company from the London Stock Exchange. This clear directive means the firm is preparing to sell all of its Bitcoin holdings and return the remaining cash to investors.

The company held nearly six hundred and sixty eight Bitcoin as of June thirtieth. Based on previous reports, Satsuma acquired those coins at an average cost of eighty four thousand and twenty six pounds each, leading to a heavy unrealized loss of nearly forty thousand pounds per coin compared to recent valuations. The upcoming sale proceeds, minus transaction costs and working capital, will determine the final payout for shareholders.

The liquidation timetable points to key dates in August and September for court hearings, listing cancellation, and final cash distribution. Market observers are watching closely as public treasury firms face mounting pressure, proving that some investors prefer cash payouts over holding volatile digital assets during tough market conditions.