British company Satsuma Technology, which raised 168.9 million pounds ($227.6 million) from noteholders at the height of the 2025 BTC treasury boom, crashed 99% from its 2025 peak. The firm sold all 669 BTC between July 24 and 31 for 31.9 million pounds ($43 million), averaging 47,667 pounds ($64,272) per bitcoin, 43% below its average purchase price of 84,026 pounds ($113,000). It accepted 1,097 BTC in payment during a 163.6 million pound ($220 million) convertible note round led by ParaFi Capital with participation from Pantera Capital, Digital Currency Group, and Kraken. Shareholders voted over 90% in favor of a wind-down on July 20, 2026, after the CEO and CFO had resigned in the preceding months.
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