Sequans Communications sold 1,200 Bitcoin during the second quarter of 2025, reducing its treasury from 1,514 to 314 BTC, a 79.3% decrease. The proceeds from these sales enabled the cellular chipmaker to complete the early redemption of $94.5 million in convertible debt, bringing it to zero by quarter-end. The company’s cash simultaneously doubled from $10.6 million to $21 million. The remaining 314 BTC, valued at $18.4 million, are now entirely unrestricted. The quarter recorded a realized net gain of $5.3 million on Bitcoin sales, a $3 million impairment loss, preliminary revenue of $7.5 million, and a net loss of $9.8 million.
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