Semiconductor company Sequans Communications, listed on the NYSE under ticker SQNS, has reduced its overall debt burden by selling 970 bitcoins. This strategic move halved the company’s convertible bonds, decreasing its total debt from $189 million to $94.5 million. Sequans currently holds 2,264 bitcoins, representing a decrease from its previous holding of 3,234. The sale resulted in a significant drop in the net asset value of its bitcoin holdings, estimated at approximately $240 million, leading to a reduction in the debt-to-net asset value ratio from 55% to 39%. CEO Georges Karam underscored that Sequans’ bitcoin investment strategy and long-term beliefs remain unchanged. The sale was a tactical decision driven by market conditions, designed to optimize the company’s balance sheet and enhance shareholder value. This reduction in debt is expected to support the previously announced ADS repurchase plan.