Sequans Sells 1,025 BTC in Q1 2026 Amid Financial Struggles

2026-05-06 00:46

Sequans Communications sold 1,025 Bitcoins in the first quarter of 2026 to fund convertible debt redemption and an ADS buyback program, reducing its reserves from 2,139 BTC to 1,114 BTC. The company reported a 24.8% decline in revenue year-over-year to $6.1 million, with an operating loss of $50.5 million, including $29.3 million in unrealized bitcoin impairment. The sale follows a previous liquidation of 970 BTC in November 2025, as Sequans continues to adjust its strategy amid financial challenges. Despite these sales, the company maintains a significant portion of its remaining 817 BTC as collateral for $35.9 million in convertible notes. Sequans' shares have dropped 51.5% over the past six months, closing at $3.01 on Nasdaq.

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