According to Sequans Communications’ statement on Tuesday, the Paris-based company sold 1,025 BTC during the first quarter of 2026 to finance convertible debt redemptions and an ADS buyback program. The transaction reduced its bitcoin holdings from 2,139 BTC at the end of 2025 to 1,114 BTC by April close, with 817 BTC (over 70% of current holdings) pledged as collateral for $35.9 million in outstanding convertible notes. The sales coincided with a 24.8% year-on-year revenue decline to $6.1 million in Q1 2026 and an operating loss of $50.5 million for the quarter.
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