Another cryptocurrency company plans to dump its Bitcoin holdings

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Another cryptocurrency company plans to dump its Bitcoin holdings

2026-07-23 00:03:36

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As Bitcoin (BTC) has continued to fall over the past few months, several cryptocurrency companies have begun to sell their Bitcoin holdings.

Bitdeer Technologies Group

As one of the largest bitcoin mining companies, Bitdeer Technology Group (NASDAQ: BTDR) fully liquidating its corporate Bitcoin holdings in February.

MARA Holdings

Another large miner, MARA Holdings (NASDAQ: MARA), sold 15,133 bitcoins worth approximately US$1.1 billion in March.

Cango Inc.

Another miner, Cango Inc. (NYSE: CANG) sold 2,000 bitcoins in March.

Strategy (formerly MicroStrategy)

Even Strategy (NASDAQ: MSTR), the largest bitcoin treasury company, has sold bitcoins twice this year, for the first time since 2022:32 bitcoins worth approximately US$2.5 million were sold between May 26 and 31; 3,588 bitcoins worth US$216 million were sold between June 29 and July 5.

Satsuma Technology

Now, another large cryptocurrency company has decided to sell its Bitcoin reserves. According to documents filed on July 20, more than 90% of shareholders of UK-based Bitcoin treasury company Satsuma Technology (London Stock Exchange: SATS.L) have voted to clear all of their Bitcoin positions and cancel its listing on the London Stock Exchange. The company will sell 668 bitcoins worth approximately $43.5 million.

Although the Bitcoin price briefly exceeded a record high of $126,000 in early October last year, it fell sharply in subsequent months, and the company was forced to sell 579 bitcoins in December to ensure it had enough cash to repay note holders who chose not to convert debt into equity before the end of the year. In early 2026, Satsuma Technology's chief financial officer and CEO resigned one after another. As the company's share price plunged 97% in a year, shareholders voted to liquidate its Bitcoin positions and delist. Under the process, cash assets worth £ 26.8 million to £ 30 million will be returned to shareholders.

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