Step 1: Expression for orbital velocity.
For a satellite revolving in a circular orbit around the earth, the gravitational force provides the centripetal force. Hence,
\[
\frac{GMm}{r^2} = \frac{mv^2}{r}.
\]
Solving for velocity,
\[
v = \sqrt{\frac{GM}{r}}.
\]
Step 2: Formula for angular momentum.
Angular momentum of a particle moving in a circular orbit is given by
\[
L = mvr.
\]
Step 3: Substituting the value of velocity.
\[
L = m \left(\sqrt{\frac{GM}{r}}\right) r = m\sqrt{GMr}.
\]
Step 4: Conclusion.
Thus, the angular momentum of the satellite is \( m(GMr)^{1/2} \).