Satsuma Technology Crashes 99% After Dumping BTC Treasury

Satsuma Technology, a firm that once raised over $227 million during the 2025 bitcoin treasury hype, has seen its stock price crater by 99 percent. The company has officially sold off all 669 of its remaining bitcoin and suspended trading as it faces pressure from investors and regulators. This marks a dramatic end for a business that pivoted multiple times, from gaming to AI, before settling on a bitcoin treasury strategy.

The firm is currently navigating High Court procedures in the UK to return capital to shareholders. However, complications have emerged regarding how that money will be paid out. Chief Bitcoin Strategist Mark Moss noted that UK regulations prevent the company from returning the original bitcoin to investors, requiring payouts in cash based on the asset price at the time of the initial investment. This leaves many shareholders facing significant losses compared to their original contributions.

Financial trouble began to mount when the company was forced to sell a portion of its holdings late last year to meet debt obligations. Boardroom instability followed, with the CFO and CEO both resigning earlier this year. Despite efforts by some directors to keep the company running, shareholders voted overwhelmingly in July to wind down operations. The final liquidation of their bitcoin reserves resulted in a significant loss, as the company sold its assets at prices far below what it originally paid during the peak of the market frenzy.