Overview
- Pantera Capital, which on Thursday urged Satsuma Technology to sell its remaining 646 BTC, called for the proceeds to be paid out to shareholders.
- Satsuma said it has received requests from some investors for a capital return and it is reviewing options, with no decision announced.
- Satsuma’s share price has dropped more than 99% from its June 2025 peak, leaving the company valued below the worth of its bitcoin holdings.
- Backers including Pantera, ParaFi, Kraken and Digital Currency Group funded a £164 million convertible note in August 2025, and disputes over later bitcoin sales were followed by a director’s February exit and CEO Henry Elder’s March departure.
- A sale of roughly $50 million in bitcoin would be small next to top corporate treasuries but could add selling pressure and intensify scrutiny of balance-sheet bitcoin strategies.