How dumping 1,200 Bitcoin helped a cellular chipmaker completely erase its debt and double its cash

Aug. 5, 2026 at 3:10 pm GMT • 2 min read 01 The treasury fell by 1,200 BTC during Q2, and every remaining coin was unrestricted at June 30. 02 Bitcoin-sale proceeds helped Sequans redeem its remaining convertible debt, which fell to zero by quarter-end. 03 Cash and cash equivalents rose to $21 million from $10.6 million as the company unwound its treasury.Sequans Communications reduced its Bitcoin treasury by 79.3% during the second quarter, leaving 314 BTC at June 30 as the cellular chipmaker used Bitcoin sales to help eliminate convertible debt and bolster cash.Holdings fell from 1,514 BTC at March 31 to 314 BTC three months later, a reduction of 1,200 BTC. Sequans valued the remaining coins at $18.4 million and said all of them were unrestricted and available for sale. Its Aug. 4 results contained no post-quarter holdings count, so 314 BTC is a June 30 snapshot rather than a current balance.The unwind followed a February agreement to redeem the remaining $94.5 million principal of convertible debt by June 1. By April 30, Sequans held 1,114 BTC, including 817 pledged against $35.9 million of remaining debt.On May 28, the company announced that it had completed the redemption usin...