Sequans Sells Final 314 Bitcoin (BTC), Ends Treasury Strategy

Sequans Exits Bitcoin Treasury

French fabless semiconductor firm Sequans Communications has sold its final 314 Bitcoin (BTC), taking its corporate digital-asset holdings to zero and formally ending the strategic Bitcoin reserve it unveiled in June 2025. The move, set out in the company's official announcement, completes a balance-sheet overhaul that began in May 2026, when the NYSE-listed firm (ticker SQNS) redeemed its convertible bonds. Sequans said the only liabilities left on its books are obligations tied to government-funded research and development projects; apart from those, the company carries no outstanding corporate debt. Chief executive Georges Karam described the completion of the Bitcoin treasury policy as an important milestone, arguing that the disciplined, opportunistic liquidation of the remaining coins — 314 BTC as of June 30, 2026 — left the firm with what he called an exceptionally solid financial foundation. Management added that the simplified capital structure should give investors a clearer view of the company's finances while preserving cash flexibility. Sequans now positions itself solely as a cellular IoT and software-defined radio (SDR) chip supplier, closing a reserve playbook that dozens of listed firms embraced during the last market cycle.

Corporate Reserves Unwind

Sequans is far from alone in reversing course. Energy-storage firm KULR Technology Group disclosed to the SEC that it sold roughly 764 BTC — its entire reserve position — between August 20 and September 11, using proceeds to clear short-term liabilities and redirect capital into its storage business. Bitcoin mining company Riot Platforms sold 9,665 BTC across the first half of 2026 to help fund its pivot toward artificial intelligence infrastructure, while Prenetics Global and Genius Group have taken similar steps — thinning the ranks of corporate whale holders that accumulated coins at scale in prior years. The retreat marks a sharp reversal in sentiment. When Sequans launched its treasury strategy in June 2025, management billed Bitcoin as a premium-grade asset and an attractive long-term investment — the conviction that defined the 2024-2025 corporate adoption wave, when balance-sheet buying looked like a smarter bet than a passive HODL stance for many smaller caps. By late May 2026, having redeemed its convertible debt, the company had already signaled it would not continue the digital-asset policy. Sustained volatility through 2026 has since turned accumulation stories into liquidation stories.

Chip Business Picks Up

The company paired its treasury exit with an upbeat read on the underlying business. Product revenue rose more than 80% year over year in the second quarter of 2026, per the company's disclosure, and its six-month product order backlog stood at more than three times the prior-year level by quarter-end — a jump management attributes to higher design-win conversion rates. Sequans said development of its 5G eRedCap platform, which supports the industry transition from 4G to 5G cellular connectivity, remains on schedule. It also reported expanding commercial traction for its newly launched RF transceiver, with design wins accumulating across defense, drone and space applications. Karam said that with the balance-sheet transition complete, the company is focused on maximizing momentum across the semiconductor portfolio, and that the strengthened financial base positions Sequans to execute its strategy, scale operations and deliver sustainable long-term shareholder value. The episode underscores how quickly corporate Bitcoin adoption narratives can reverse when capital priorities shift — and why the underlying business is what remains once a treasury story is switched off. Readers tracking the market in real time can follow live spot and futures prices on Gate.

$87K Resistance In Focus

Bitcoin itself traded near $83,903 at press time, down 0.90% over 24 hours. COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $84,076 resistance at 73/100 (Fibo 0.114, pivot point) with the stronger $87,330 ceiling at 81/100 (BB Upper, Donchian Upper). A flipped support at $83,104 scores 52/100 (MACD cross), with $77,002 far stronger at 71/100 (SMA 50, Keltner Lower). Perpetual funding prints slightly negative at -0.0031% against $16.02B open interest and a 1.41 long/short ratio, while the Fear & Greed Index reads 74 (Greed). A daily close above $84,076 keeps the uptrend intact toward $87,330; losing $83,104 would target $80,160 instead.