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.
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The company will now transition to a nearly debt-free balance sheet with greater financial flexibility and will focus solely on its core IoT and cellular semiconductor business, he said.
As of now, Sequans has approximately 658 Bitcoin, now completely unencumbered, on its balance sheet. Although the company said it plans to “monetize” the remaining Bitcoin over time, it did not reveal any further details.
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Sequans’ Short Bitcoin Journey
Sequans said in June 2025 that it planned to raise $384 million through a combination of debt and equity instruments to create a Bitcoin treasury.
The following month, he announced the acquisition of 370 Bitcoin and said he planned to acquire 3,000 Bitcoin in “weeks.”
In fact, Sequans acquired up to 3,000 Bitcoin at the end of July and continued to purchase more at regular intervals. But the sudden crash on October 10 made the company reconsider the decision.
The company first sold 970 BTC in November 2025 and then 1,025 BTC in Q1 2026. It trimmed holdings to 1,114 BTC as of April 30 and the latest update shows it now holds approximately 658 Bitcoin.
“Going forward, we have no intention of continuing with our treasury strategy,” CEO Georges Karam had revealed during the first quarter 2026 earnings call.
Bitcoin, which hit a record price of $126,080 on October 6, 2025, is currently trading 40% lower at $73,467.
Related: Popular Crypto Stocks Rise After $1.1 Billion Bitcoin Sale
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.