Sequans Abandons Bitcoin Strategy, Sells Off Remaining 34 BTC

Sequans Communications, a semiconductor company listed on the NYSE, has officially closed its Bitcoin treasury strategy. The company announced it had sold its remaining 34 BTC and completed its exit from the Bitcoin field.

The decision to abandon its BTC strategy was made as part of a broader balance-sheet restructuring effort aimed at reducing debt and refocusing on core business. CEO Georges Karam stated that the company had monetized its remaining holdings in a 'measured and opportunistic manner', but will now devote full attention to its semiconductor growth strategy.

Sequans began selling its BTC stash earlier this year, starting with 658 units and gradually reducing it to 314 by June 30. The final sale of the remaining 34 BTC was completed as of late September.