Satsuma Technology (SATS), a U.K.-based bitcoin technology company, sold 579 of its 1,199 bitcoin holdings for a net gain of about 40 million pounds ($53.20 million), according to a Thursday release. After the transaction, the company held 620 bitcoin and about 90 million pounds in cash.
The deal is designed to ensure there is sufficient liquidity to meet its £78 million repayment obligations on its convertible loan notes, which are due on December 31, provided that certain holders choose not to convert their notes into equity during the planned listing upgrade.
Bitcoin company Satsuma sells 579 bitcoin loan repayment notes
2025-12-11 11:34:24
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