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IoT company Sequans to sell remaining 658 Bitcoin as it exits digital asset treasury
After embracing Bitcoin as a core treasury strategy in 2025, Sequans is now unwinding its entire crypto position and shifting attention back to its IoT chip business and 5G roadmap.
Sequans Communications, a French semiconductor company that develops cellular IoT chips for 5G and 4G networks, sold 456 Bitcoin and said it plans to offload the remaining 658 BTC on its balance sheet, effectively ending its digital asset treasury strategy.
The company used proceeds from the Bitcoin sale to fully redeem convertible debt issued in July 2025, eliminating roughly $37 million in obligations due by early June. The move leaves Sequans with a near debt-free balance sheet.
“We have strengthened our balance sheet, simplified our capital structure, and are now fully focused on scaling our IoT semiconductor business,” CEO Georges Karam commented.
Sequans kicked off its Bitcoin treasury play in July 2025 and once targeted accumulating 100,000 BTC by the end of 2030.
At its peak, the Paris-based semiconductor company held 3,234 BTC. By early May 2026, it had already reduced its holdings to approximately 1,114 BTC.
Karam said the company plans to prioritize execution across its 4G and RF transceiver businesses, improve its path toward profitability, and continue advancing its 5G roadmap as visibility improves and its production pipeline expands.