Sequans sells 1,025 BTC to fund debt redemptions and buybacks as Q1 revenue drops 24.8% to $6.1M

Sequans said it sold 1,025 BTC, equal to 47.9% of its Bitcoin holdings, with proceeds earmarked for debt redemptions and share buybacks. The company posted first-quarter revenue of $6.1 million, down 24.8% year over year, and reported an operating loss of $50.5 million. Following the sale, Sequans ranks No. 40 among public companies holding Bitcoin. Full report ⤵