Paris-based Sequans Communications trimmed its bitcoin (BTC) holdings by nearly half during the first quarter, selling 1,025 BTC to finance convertible debt redemptions and an ADS buyback program.
The transaction reduced the firm’s total digital asset reserves from 2,139 BTC at the end of 2025 to 1,114 BTC by the close of April, it said in a statement on Tuesday. Of the remaining bitcoin position, 817 BTC, representing over 70% of its current holdings, is pledged as collateral for $35.9 million in outstanding convertible notes.
The sales occurred alongside a 24.8% year-on-year decline in total revenue, which fell to $6.1 million in the first quarter of 2026.
According to the statement, Sequans reported an operating loss of $50.5 million for the quarter, compared to a loss of $6.8 million in the first quarter of 2025. This figure included $29.3 million in unrealized impairment losses on its bitcoin investment and $11.7 million in realized net losses from digital asset sales.
The latest sale follows earlier disposals after Sequans began accumulating bitcoin in July 2025, when CEO Georges Karam announced a plan to amass 3,000 BTC in “weeks,” framing the initiative as a “long-term store of value for our shareholders.”
Four months later, in November, Sequans sold approximately 970 BTC, cutting its holdings from 3,234 BTC to 2,264 BTC to redeem $94.5 million of convertible debt. Karam said at the time that the transaction was a “tactical decision” tied to balance-sheet management while maintaining the company’s bitcoin strategy.
Sequans ranks No. 40 among publicly traded companies holding bitcoin, according to Bitcoin Treasuries data. By comparison, Strategy holds 818,334 BTC, while Twenty One Capital and Metaplanet report holdings of 43,514 BTC and 40,177 BTC, respectively.
Sequans has seen its Nasdaq-listed shares decline 51.5% over the past six months to $3.01 as of Tuesday, according to Google Finance data.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
