Sequans Communications (NYSE: SQNS), a leading provider of 5G/4G cellular IoT semiconductor solutions, announced on May 28 that it has completed the redemption of all remaining debt tied to its Bitcoin (BTC) treasury.
The Paris-based company said it was the sale of nearly 80% of its total Bitcoin holdings that funded the debt redemption.
Related: Michael Saylor finally wants to sell Bitcoin
The company will now transition to a near debt-free balance sheet with increased financial flexibility and focus only on its core IoT and cellular semiconductor business, it said.
As of now, Sequans holds approximately 658 Bitcoin, now fully unencumbered, on its balance sheet. Though the company said it is planning to “monetize” its remaining Bitcoin over time, it didn’t reveal any further details.
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Sequans’ short Bitcoin journey
Sequans said in June 2025 that it planned to raise $384 million via a combination of debt and equity instruments to create a Bitcoin treasury.
The next month, it announced the acquisition of 370 Bitcoin and said it planned to acquire 3,000 Bitcoin within “weeks.”
Sequans indeed acquired as much as 3,000 Bitcoin by the end of July and kept buying more at regular intervals. But the flash crash on Oct. 10 made the company reconsider the decision.
The company first sold 970 BTC in November 2025, and then 1,025 BTC in the first quarter of 2026. It cut the holdings to 1,114 BTC as of April 30, and the latest update shows it now holds approximately 658 Bitcoin.
“Looking ahead, we do not intend to further pursue our treasury strategy,” CEO Georges Karam had revealed during the Q1 2026 earnings call.
Bitcoin, which reached the record high price of $126,080 on Oct. 6, 2025, is currently trading 40% lower at $73,467.
Related: Popular crypto stock rises after Bitcoin sale of $1.1 billion
This story was originally published by TheStreet on May 30, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
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