Semiconductor Company Sequans Abandons Bitcoin Holdings With Sale of Final 314 BTC
The semiconductor manufacturer headquartered in France has completely dismantled a Bitcoin treasury program that previously accumulated over 3,200 BTC, joining a growing list of corporations reducing their cryptocurrency positions.
Sequans Communications has disposed of its final 314 Bitcoin holdings, marking the complete abandonment of a Bitcoin treasury program that previously saw the semiconductor manufacturer accumulate a peak holding of more than 3,200 BTC.
The French semiconductor manufacturer announced on Thursday that this withdrawal follows the May redemption of its convertible debt obligations and will enable the company to concentrate efforts on its primary cellular internet-of-things (IoT) and software-defined radio operations.
Chief Executive Officer Georges Karam stated that the company utilized proceeds from Bitcoin sales to completely retire its convertible debt and reinforce its financial position, resulting in Sequans holding zero cryptocurrency assets and carrying no outstanding debt obligations apart from government-backed research and development financing.
Sequans initiated its Bitcoin treasury program in June 2025 following the announcement of a $384 million transaction involving equity securities and convertible secured debentures. During that period, Karam described Bitcoin as "a premier asset and a compelling long-term investment."
The company initiated the reduction of its Bitcoin position in less than half a year, disposing of 970 BTC in November to retire fifty percent of its convertible debt. By May 2026, Sequans announced it was "no longer pursuing" the treasury program and planned to liquidate its remaining Bitcoin holdings gradually.
Bitcoin treasury exits mount in 2026
An increasing number of companies with digital asset treasury programs have either completely exited or significantly reduced their accumulation strategies throughout 2026 as the cryptocurrency bear market persists.
During late July, Matthew Sigel, head of digital assets research at VanEck, documented no fewer than nine companies that had either completely liquidated or discontinued their Bitcoin and cryptocurrency treasury programs in 2026, in addition to multiple other firms that had decreased their positions.
Satsuma Technology, listed in the UK, represented one of the more significant strategy reversals. During July 2025, the company secured 100 million British pounds ($135 million) via convertible loan notes to grow its Bitcoin treasury, which Cointelegraph documented at the time as a UK record for a Bitcoin treasury raise.
Twelve months later, shareholders approved by an overwhelming margin to distribute nearly all of the company's capital and terminate its stock exchange listing. The board of directors then approved the termination of its trading operations and the liquidation of its complete 669 BTC position.
Additional companies that have completely sold off their Bitcoin holdings during this year include Bitdeer, Genius Group and Prenetics. MARA Holdings and Empery Digital have similarly executed significant sales while maintaining their treasury strategies in some capacity.
The companies referenced by VanEck's Sigel withdrew from or scaled down their holdings for various motivations, encompassing debt settlement obligations, operational capital requirements, distributions to shareholders and modifications in corporate strategy.