Convano Sells All Bitcoin for $57.26 Million for Buybacks and Debt Repayment

Convano has completed the sale of all its Bitcoin holdings, generating approximately $57.26 million, with a loss of about $1.88 million from the sale. The company had planned to hold 21,000 Bitcoins until the end of March 2027, but withdrew this plan in November 2025 due to market fluctuations and returned to its core business. Of the proceeds from the sale, approximately $17.69 million will be used for early repayment of corporate debt, while the majority will be allocated for stock buybacks, with a buyback cap of about $31.84 million, aimed at improving shareholder returns and capital efficiency.

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