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Sequans Communications Sells 1,025 Bitcoin, Treasury Holdings Fall to 1,114 BTC

According to Sequans Communications’ preliminary Q1 2026 results, the company used proceeds from selling 1,025 BTC to repay convertible bonds and buy back ADS shares, while booking an $11.7 million realized loss.

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Fact Check
All key elements of the claim are strongly corroborated. The official Sequans Communications Q1 2026 preliminary results press release (newsfilecorp.com/release/295950) is the primary source, confirming the Q1 2026 financial period and the company's financial distress. The Block's reporting directly citing that press release confirms: (1) 1,025 BTC sold in Q1 2026; (2) holdings reduced from 2,139 to 1,114 BTC as of April 30; (3) proceeds used for convertible debt redemptions and ADS buyback program; and (4) $11.7 million in realized losses from the sales. The Odaily report and multiple other outlets (Decrypt, KuCoin, Ground News, Crypto Economy) all independently corroborate the same figures with no conflicting data found. The minor residual uncertainty (3%) reflects the preliminary and unaudited nature of the Q1 results as stated in the official release.
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Summary

Sequans Communications sold 1,025 BTC in Q1 2026, reducing its Bitcoin treasury from 2,139 BTC to 1,114 BTC. According to the company’s preliminary Q1 2026 results announced on the 5th, the sale generated an $11.7 million realized loss and the proceeds were used to repay convertible bonds and fund ADS share buybacks. Earlier disclosed quarter results also included a $54.3 million net loss, with $29.3 million in unrealized Bitcoin impairment, and 817 BTC pledged as collateral for $35.9 million in convertible notes.

Terms & Concepts
  • Bitcoin treasury: A company’s Bitcoin holdings held on its balance sheet as a reserve or treasury asset.
  • BTC: The ticker symbol for Bitcoin, the largest cryptocurrency by market capitalization.
  • Convertible bonds: Debt securities that can be converted into shares under specified terms; Sequans used Bitcoin sale proceeds to repay them.