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Sequans Communications cuts Bitcoin holdings to 314 BTC after selling 1,200 coins in second quarter

Sequans Communications cuts Bitcoin holdings to 314 BTC after selling 1,200 coins in second quarter

The French IoT chipmaker used the sales to eliminate convertible debt and raise cash as CEO Georges Karam shifts focus back to the company’s core semiconductor business.

BTC

Fact Check
Sequans' own primary press release (Newsfile Corp, Aug 4, 2026) directly confirms the 314 unrestricted Bitcoin remaining, full convertible debt redemption in May 2026, realized gains on Bitcoin sales, and the ongoing treasury exit. The specific '344 sold' figure is reported by CryptoBriefing and Odaily and is consistent with the holdings reduction during the quarter. All central claims align with the primary source.
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Summary

Sequans Communications sold 1,200 Bitcoin in the second quarter, reducing its treasury to 314 BTC by June 30 from 1,514 BTC at the end of March, as the French chipmaker unwound much of its digital-asset position and fully redeemed its convertible debt. The company said its remaining 314 BTC were valued at $18.4 million at quarter-end, while cash rose to $21 million from $10.6 million three months earlier and debt was eliminated in May. The sales generated a realized net gain of $5.3 million in the second quarter, reversing an $11.7 million realized loss in the first quarter. Sequans also recorded a much smaller Bitcoin impairment charge of $3.0 million in the latest period, after a $29.3 million unrealized impairment on its holdings contributed to a $76.2 million net loss in the first quarter of 2026. The retreat marks a sharp reversal from a Bitcoin treasury strategy launched in July 2025, when CEO Georges Karam began accumulating the asset. Holdings later rose to more than 3,300 BTC before Sequans started selling in November 2025 to repay debt. At the same time, the company’s operating business improved, with second-quarter revenue reaching $7.5 million, up 23.2% from the first quarter, as product sales strengthened and management emphasized its core IoT semiconductor business.

Terms & Concepts
  • Convertible debt: Borrowing that a company can repay or convert into shares under predetermined terms.
  • Bitcoin impairment charge: An accounting writedown taken when the reported value of Bitcoin holdings falls below their carrying value.
  • Bitcoin treasury strategy: A corporate policy of holding Bitcoin on the balance sheet as a treasury reserve asset.