Sequans exits Bitcoin treasury strategy after selling remaining 314 BTC

Sequans Communications announced it has sold its final 314 Bitcoin, completing its exit from a Bitcoin treasury program that at one point exceeded 3,200 BTC. The French semiconductor company said the decision follows the May redemption of its convertible debt and will enable management to concentrate on its cellular internet-of-things and software-defined radio operations. CEO Georges Karam said Sequans used proceeds from Bitcoin sales to retire convertible debt and bolster its balance sheet. After the latest transactions, the company reported it holds no cryptocurrency and has no outstanding debt aside from government-funded research and development obligations. Sequans initiated the Bitcoin treasury strategy in June 2025 after raising $384 million through equity securities and convertible secured debentures; at that time company leadership described Bitcoin as a long-term investment. The firm began trimming its position less than six months later, selling 970 BTC in November to redeem half of its convertible debt, and by May 2026 said it was “no longer pursuing” the treasury approach and would monetize remaining holdings over time. Sequans’ full exit mirrors a wider wave of corporate unwindings in 2026. VanEck digital assets researcher Matthew Sigel identified at least nine companies that have fully liquidated or abandoned Bitcoin or crypto treasury strategies this year, with additional firms reducing positions. Other named examples include UK-listed Satsuma Technology — which reversed a 2025 capital raise and sold its 669 BTC position — as well as Bitdeer, Genius Group and Prenetics, while MARA Holdings and Empery Digital have made substantial sales without entirely abandoning their strategies.