Sequans Communications just sold 344 Bitcoin in the second quarter of 2026 and plans to liquidate its remaining 314 BTC. The Paris-based IoT chipmaker, listed on NYSE as SQNS, is pulling the plug on what once looked like an aggressive digital asset strategy. From a peak of 3,200 coins, the company has now unwound 90% of its holdings to refocus entirely on making semiconductors.
The retreat happened fast. Sequans kicked off its Bitcoin treasury program in July 2025 with an initial 370 BTC purchase and pushed hard to accumulate more than 3,000 coins. It hit that mark and briefly crossed into 3,200 territory. By the end of Q2 this year, that stack had collapsed to 314 BTC worth $18.4 million. The second quarter alone saw the company liquidate more than half of what it carried at the start of the quarter, dropping from 658 BTC to 314.
CEO Dr. Georges Karam described the unwinding as deliberate portfolio management. The company needed the cash. It used Bitcoin sale proceeds to fully redeem convertible debt that had been issued alongside the original treasury push, completing that redemption by late May. Revenue actually climbed 23% quarter-over-quarter to $7.5 million, with IoT semiconductor product sales jumping 83.7% year-over-year when adjusted for one-time items. Still, the company posted a net loss of $9.8 million for the quarter, though it booked a realized net gain of $5.3 million from Bitcoin sales themselves.
All 314 remaining coins carry no restrictions. No lockups, no pledges, no encumbrances. The company says it will take a disciplined approach to dumping what's left, but make no mistake, those coins are destined for market.
This article is informational only and should not be construed as financial or investment advice. Always conduct your own research before making decisions about digital assets.
