Sequans Sells Final 314 BTC, Ending Its Bitcoin Treasury Run

Sequans Communications has sold the last 314 bitcoin on its balance sheet, closing out a bitcoin treasury strategy that at one point held more than 3,200 BTC.

A short-lived treasury

The Paris-based semiconductor company launched the strategy in June 2025, backed by a $384 million sale of equity and convertible secured debentures.

At the time, CEO Georges Karam called bitcoin:

“A premier asset and a compelling long-term investment.”

Less than six months later, Sequans began trimming, selling 970 BTC in November to redeem half of its convertible debt.

By May 2026, it had redeemed the rest of that debt and said it was no longer pursuing the strategy, planning instead to sell its remaining coins over time.

Final sale completes the exit

The 314 BTC now sold were the holdings Sequans reported as of June 30, 2026.

Karam said in the announcement:

“The completion of our Bitcoin treasury strategy marks an important milestone for Sequans and reflects the disciplined execution of a strategy designed to strengthen our financial foundation.”

He explained how the bitcoin sales fit into that plan:

“By eliminating our convertible debt, monetizing our remaining Bitcoin holdings in a measured and opportunistic manner, and emerging with a very strong balance sheet, we have positioned the Company to focus entirely on executing our long-term semiconductor growth strategy.”

Sequans now carries no crypto on its books and no debt outside of obligations tied to government-financed R&D projects.

Back to semiconductors

The company described its new direction in the release:

“The Company’s full strategic and financial attention returns to scaling its cellular IoT and SDR semiconductor business.”

That business has been picking up, with second-quarter product revenue growing more than 80% year-over-year.