Sequans sells Bitcoin, ends crypto strategy to refocus on IoT

Sequans sold most of its Bitcoin to redeem debt, ending its crypto treasury strategy. The company will now focus on IoT and cellular semiconductors, gradually selling its remaining BTC.

Sequans Communications, a Paris-based semiconductor company, has officially ended its Bitcoin treasury strategy after less than a year. The company sold nearly 80% of its Bitcoin holdings to fully redeem its convertible debt, leaving it with about 658 BTC, now unencumbered. Sequans launched its Bitcoin treasury program in mid-2025, raising around $384 million to accumulate over 3,000 BTC, aiming to position Bitcoin as a core reserve asset. However, declining revenues, operational losses, and Bitcoin’s volatility prompted a strategic shift. The company has announced it will gradually monetize its remaining Bitcoin and refocus entirely on its core business in IoT and cellular semiconductors, including smart metering, asset tracking, connected vehicles, and industrial IoT. This marks a significant turning point as Sequans simplifies its capital structure and strengthens its balance sheet, abandoning one of the most ambitious crypto treasury strategies among French firms.