Sequans sells 314 BTC and exits Bitcoin treasury strategy

Sequans Communications sold its remaining 314 BTC and exited its Bitcoin treasury strategy. The strategy once held more than 3,200 BTC. Sequans said the exit follows the redemption of its convertible debt in May. The company said the exit will allow it to refocus on its cellular internet-of-things and software-defined radio businesses. CEO Georges Karam said Sequans used Bitcoin sales to eliminate its convertible debt. Karam said the sales strengthened the company's balance sheet. Sequans now has no cryptocurrency holdings. The company has no outstanding debt beyond government-financed research and development obligations. Sequans launched the strategy in June 2025. The launch followed a $384 million sale of equity securities and convertible secured debentures. Karam called Bitcoin a premier asset and a compelling long-term investment at the time. Sequans sold 970 BTC in November to redeem half its convertible debt. By May 2026, Sequans said it was no longer pursuing the treasury strategy. The company said it would monetize its remaining Bitcoin over time. Other companies also abandoned or reduced Bitcoin and crypto treasury strategies in 2026 amid the crypto bear market. In late July, Matthew Sigel, VanEck's head of digital assets research, identified at least nine companies that had fully liquidated or abandoned those strategies in 2026. UK-listed Satsuma Technology raised 100 million British pounds ($135 million) through convertible loan notes in July 2025 to expand its Bitcoin treasury. A year later, shareholders voted to return substantially all of the company's capital and cancel its listing. The board then authorized the closure of Satsuma's trading activities. The board also authorized the sale of its entire 669 BTC position. Bitdeer, Genius Group and Prenetics also fully liquidated their Bitcoin holdings in 2026. MARA Holdings and Empery Digital made substantial sales without fully abandoning their treasury strategies. The companies cited by Sigel exited or reduced their holdings for reasons that included debt repayments, working capital needs, shareholder returns and changes in business strategy.