Chipmaker Sequans' First-Quarter Loss Widens, Prompting Sale of More Than 1,000 Bitcoin for Cash

Paris-based mobile communications chipmaker Sequans had followed the corporate crypto treasury playbook by adding Bitcoin to its reserves, seeking both asset appreciation and capital-allocation benefits. But as revenue from its core business declined and losses worsened, Bitcoin—originally intended as a long-term reserve—became a source of cash to cover a funding shortfall, highlighting the liquidity risks of corporate Bitcoin accumulation strategies.

Sequans' revenue contracted in the first quarter of 2026, while its net loss widened to $54.3 million. Under working-capital pressure, the company sold 1,025 Bitcoin to raise cash, nearly halving its cryptocurrency reserves. The latest reports also indicate that Sequans is abandoning its crypto treasury strategy and plans to liquidate its remaining Bitcoin holdings.