Bitcoin company Satsuma sells 579 bitcoins to repay loan notes

According to a report by Jinse Finance, Satsuma Technology (SATS), a UK-based Bitcoin technology company, announced on Thursday that it has sold 579 of its 1,199 held bitcoins, generating net proceeds of approximately £40 million (US$53.2 million). After the transaction, the company holds 620 bitcoins and about £90 million in cash. The transaction aims to ensure sufficient liquidity to fulfill its £78 million repayment obligation for its convertible loan notes, which are due on December 31, provided that certain holders do not choose to convert their notes into equity during the planned listing upgrade.