US-listed company Sequans confirmed that it reduced its debt by selling 970 bitcoins.

Sequans Communications (NYSE:SQNS), a US-listed company, disclosed that it redeemed approximately 50% of its convertible bonds by selling 970 bitcoins, reducing the company's total debt from $189 million to $94.5 million. Sequans currently holds 2,264 bitcoins, down from 3,234 previously. Based on current market prices, its net worth in bitcoins is approximately $240 million, and its debt-to-net-worth ratio has decreased from 55% to 39%.