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

Sequans said the sale followed the redemption of its convertible debt in May 2026 and would allow the company to refocus 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 linked 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.

Sequans launched its Bitcoin treasury strategy in June 2025 — a corporate practice in which companies hold Bitcoin as a long-term reserve on their balance sheets — after raising about $384 million through equity securities and convertible secured debentures. At the time, Karam 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 represented the amount held on the company’s balance sheet as of June 30, 2026.

Sequans said its semiconductor business was showing signs of growth as it 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. Those are the operating metrics management now cites as it redirects the company fully back to its semiconductor business.

The exit comes amid a broader pullback by multiple publicly traded companies from Bitcoin treasury strategies. Matthew Sigel, VanEck’s head of digital assets research, identified at least nine companies that had fully liquidated or abandoned their crypto treasury strategies in 2026, while others had reduced their holdings.

Companies have cited various reasons for reversing such strategies, including debt repayment, working-capital requirements, shareholder returns and changes in corporate strategy. Sequans’ stated rationale — redeeming its convertible debt and refocusing on its core chip business — fits that pattern.

Sequans’ move leaves the company with a simpler balance sheet and removes its direct exposure to Bitcoin price movements, meaning its financial results are no longer tied to the cryptocurrency’s market value, as management redirects its financial focus toward semiconductor development and growth.

Source: BitcoinKE