Sequans Halves BTC Holdings, Signals Potential Full Exit After June Debt

Sequans Communications now holds 1,114 BTC after selling 1,025 BTC in Q1 2026 to fund debt redemptions and ADS buybacks, with 817 BTC pledged as collateral for $35.9M convertible notes due June 1—potentially freeing them for sale thereafter. Q1 revenue plunged 24.8% YoY to $6.1M amid a $54.3M net loss, including $29.3M unrealized and $11.7M realized BTC losses. Initial May 5 reports focused on the sales and earnings miss as shares fell 51.5% over six months; May 6 coverage highlights debt-driven treasury reassessments despite Bitcoin's rally past $81K.