Shareholders of Satsuma Technology, a U.K.-based Bitcoin treasury company, voted by more than 90% to liquidate its entire 668 BTC position, worth approximately $43.5 million, and cancel its London Stock Exchange listing. The company, originally launched as TAO Alpha before rebranding and hiring Mark Moss as Chief Bitcoin Strategist in August 2025, had raised £163.6 million through convertible notes, with investors contributing 97 million dollars worth of Bitcoin directly. After selling 579 BTC for £40 million in December 2025 and accounting for estimated wind-down costs of £2.7 million, Satsuma expects to return between £26.8 and £30 million to shareholders, far less than the £163.6 million originally raised. The stock has lost more than 99% of its June 2025 peak value, and the company is now the second-largest U.K.-listed Bitcoin treasury, behind The Smarter Web Company which holds 2,878 BTC.
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