Satsuma Sells Entire Bitcoin Reserve To Pay Shareholders

Satsuma Technology has officially received approval from the High Court of Justice to cancel a specific class of shares, clearing the path for a major cash payout to investors. The company previously sold its entire reserve of 669 Bitcoin between July 24 and July 31 at an average price of £47,667 per coin. This sale generated nearly £32 million in gross proceeds.

After setting aside money for transaction costs and working capital, the firm calculated a total return of over £30 million. Eligible investors are set to receive £0.002734 per B share. This arrangement gives the money back to shareholders while the company moves forward with delisting from the London stock exchange.

The court decision removes the last major legal hurdle blocking the distribution. Shareholders should expect to receive their checks or direct account credits on or before September 28. This move highlights how some publicly traded firms choose to liquidate digital assets and wind down operations rather than hold crypto through changing market conditions.