French semiconductor company, Sequans Communications, has sold its remaining 314 Bitcoin completing its exit from a corporate treasury strategy that at one point saw it hold more than 3,200 BTC.

Sequans said that the sale followed the redemption of its convertible debt in May 2026 and would allow the company to re-focus on its core cellular Internet-of-Things (IoT) and software-defined radio businesses.

The company now holds no cryptocurrency and has no outstanding debt apart from obligations tied to government-financed research and development projects, it said.

 

“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 semi-conductor growth strategy,” Chief Executive, Georges Karam, said.

 

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Sequans launched its Bitcoin treasury strategy in June 2025 after raising about $384 million through equity securities and convertible secured debentures. Karam at the time described Bitcoin as ‘a premier asset and a compelling long-term investment.’

The company began scaling back the strategy less than six months later, selling 970 BTC in November 2026 to redeem half of its convertible debt. In May 2026, Sequans said it was no longer pursuing the digital asset treasury strategy and would gradually monetize its remaining holdings.

The final 314 BTC were the amount held on the company’s balance sheet as of June 30 2026.

Sequans said its semiconductor business is showing signs of growth as it moves away from the Bitcoin strategy. Product revenue rose more than 80% year-over-year in the second quarter while its six-month product backlog at the end of June 2026 more than tripled from a year earlier, according to the company.

The exit comes amid a broader pullback by multiple publicly-traded companies from Bitcoin treasury strategies. The Digital Assets Research Head at VanEck , Matthew Sigel, identified at least nine companies that had fully liquidated or abandoned their crypto treasury strategies in 2026 while others have reduced their holdings.

 

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Companies have cited different reasons for the reversals including

  • debt repayment,

  • working-capital requirements,

  • shareholder returns, and

  • changes in corporate strategy.

Sequans’ move leaves the company with a simpler balance sheet and removes its direct exposure to Bitcoin price movements as management turns its financial focus back to semi-conductor development and growth.

 

 

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