Shareholders of UK Bitcoin-treasury firm Satsuma Technology have voted, with over 90% support, to sell off its entire Bitcoin stack, delist from London, and hand the capital back to its investors.

Satsuma will sell 668 BTC (~$43.5M) and return the capital to investors, overruling four of its six board members. It is a fast unwind: under a year ago it raised $218M in a ParaFi-led round and hired Mark Moss as chief bitcoin strategist.

The trigger: SATS shares fell over 99% from their 2025 peak, pulling the market cap well below the value of the Bitcoin on its books. UK court hearings run into September, with delisting due mid-September.