WuShuo has learned that French publicly listed IoT chip company Sequans Communications (NYSE: SQNS) disclosed in its Q2 earnings report that the company sold 344 Bitcoins in the second quarter, reducing its holdings from approximately 658 to 314. As previously planned, they will continue to gradually sell the remaining Bitcoins, exiting their Bitcoin treasury strategy. The company stated that the Bitcoin sales were primarily used to repay convertible bonds and increase cash reserves, with all convertible bond redemptions completed in May. Q2 revenue was $7.5 million, with a net loss of $9.8 million. The company also recorded a $3 million Bitcoin impairment loss and a $5.3 million net gain from Bitcoin sales. https://(wublock123.com)/news/sequans-communications-sells-344-bitcoin-plans-sell-remaining-314-65880