Sequans exits Bitcoin treasury strategy after selling remaining 314 BTC — SkimNews
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- Satsuma Technology raised £100 million ($135 million) in July 2025 via convertible loan notes to expand its Bitcoin treasury — what Cointelegraph reported at the time was a UK record for a Bitcoin treasury raise
- Satsuma Technology shareholders voted overwhelmingly one year later to return substantially all capital and cancel the company's listing, after which the board authorized selling its entire 669 BTC and closing trading activities
- Bitdeer, Genius Group, and Prenetics also fully liquidated their Bitcoin holdings this year, per VanEck's Sigel
- MARA Holdings and Empery Digital made substantial Bitcoin sales without abandoning their treasury strategies altogether
- The exiting and reducing companies cited a range of reasons, including debt repayments, working capital needs, shareholder returns, and shifts in business strategy
Why it matters: At least five companies fully liquidated their Bitcoin holdings this year, with UK-listed Satsuma Technology — which raised a UK-record £100M ($135M) in July 2025 — selling its entire 669 BTC and canceling its listing within twelve months, showing the speed at which once-celebrated Bitcoin treasury strategies can unravel even at firms that pioneered the model in their home markets.
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