Sequans Dumps 1,200 Bitcoins, Cuts Balance Sheet to 314 BTC

French semiconductor firm Sequans Communications has made significant changes to its balance sheet by offloading Bitcoin holdings. According to preliminary financial results, the company held 1,514 BTC valued at $103.2 million at the end of March but retained only 314 BTC worth an estimated $18.4 million as of June 30.

Sequans sold 1,200 bitcoins throughout Q2, resulting in a realized net gain of $5.3 million compared to a $11.7 million loss in Q1. The firm's treasury had been restricted by collateralization rules on its assets, with 1,217 BTC pledged as collateral against convertible notes.

The sale marks a major shift in the company's strategy, which began last year under CEO Georges Karam. In July 2025, Sequans started acquiring Bitcoin, building up to a peak of 3,300 BTC before gradually divesting its holdings starting in November 2025.