BTC Holdings
2,139 BTC
180d
Stock Price
$2.57
180d
Total financing
94.50M USD
180d
mNAV
0.35x
180d
Leverage
53.3%
180d
BTC Credit
255 bps1.9x
Sats/Share
13,335
180d
Mkt cap
52.67M USD
Shares
20.50M
Fiat reserve
13.40M USD
Total reserve
165.51M USD
Dilution
28.1%
Analytics
BTC Coverage
Financials
IFRSAnnualAs of 2025-12-31
Balance Sheet
Total Assets$248.9M▲133.6%
Total Liabilities$121.2M▲136.8%
Stockholders' Equity$127.7M▲130.7%
Cash & Equivalents$13.4M▲47.3%
Total Debt$65.4M
Digital Assets$187.1M
Income Statement
Revenue$27.2M▼26.1%
Operating Income$-110.3M▼258.6%
Net Income$-102.4M▼277.9%
Interest Expense$12.2M▼48.6%
Cash Flow
Operating Cash Flow$-22.8M▼16.9%
Instruments
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| SQNS-Jul28 | Jul '25 – Jul '28 | 0% | 189.00M USD | 94.50M USD | 21.00 USD | 1.9x |
| Total | 94.50M USD | |||||
Disclaimer
Shares outstanding reflects ordinary shares. Stock price is per ADS (1 ADS = 100 ordinary shares).
Recent Changes
Wed, Dec 31, 2025
BTC Holdings
2.3K→2.1K-125 BTC(-5.5%)
Form 6-K (Q4 2025)
Shares Outstanding
1.56B→1.60B+40.4M(+2.6%)
Ordinary shares; 1 ADS = 100 shares
Form 6-K (Q4 2025)Fiat Reserve
13.4M→13.4M-32.0K(-0.2%)USD
Form 6-K (Q4 2025)
Tue, Nov 4, 2025
BTC Holdings
3.2K→2.3K-970 BTC(-30.0%)
Sequans BTC Treasury Tracker
Debt OutstandingRedemptionSQNS-Jul28
189.0M→94.5M-94.5M(-50.0%)
Redeemed 50% using sale of 970 BTC
50% Convertible Debt Redemption via BTC Sale