Sequans Communications sold off most of its Bitcoin holdings in the second quarter, offloading 1,200 coins and cutting its stash down to just 314 BTC. The French chipmaker, listed on NYSE under SQNS, completed the liquidation to wipe out its convertible debt and refocus on what it does best, semiconductors for IoT devices.
Back in March, Sequans held 1,514 BTC worth $103.2 million, though 1,217 of those coins were locked up as collateral against its convertible notes. By the end of June, after three months of steady selling, that pile shrank to 314 coins valued at $18.4 million. The company even managed a net gain of $5.3 million on the sales, a relief after taking an $11.7 million hit in Q1 when it was forced to dump coins into a weakening market.
CEO Georges Karam framed the move as a strategic reset. Rather than stay strapped by debt obligations and collateral constraints, the company is clearing the balance sheet to concentrate on its core IoT chip business. At current prices those remaining 314 Bitcoin are worth around $20 million, putting Sequans at number 73 on the list of public company Bitcoin holders.
The company joins a growing list of firms trimming crypto exposure. Marathon Digital, Riot Platforms, and others have also been scaling back their Bitcoin treasuries as market conditions shift and business priorities realign. For Sequans, the move signals a return to fundamentals after a detour into digital assets.
This article is for informational purposes only and should not be construed as financial advice. Bitcoin and cryptocurrency investments carry significant risk.
