Sequans exits Bitcoin treasury strategy
- Sequans (NYSE:SQNS) completed the sale of its remaining 314 Bitcoin holdings and exited its cryptocurrency treasury strategy.
- The company now has no cryptocurrency holdings and no outstanding debt except debt related to government-funded research and development projects.
- Sequans reported second-quarter product revenue growth of more than 80% year over year and continued investment in 5G semiconductor technology.
Sequans Communications (NYSE:SQNS) completed the sale of its remaining 314 Bitcoin holdings, ending its Bitcoin treasury strategy and refocusing on its semiconductor business.
The Bitcoin holdings were recorded on the company’s balance sheet as of June 30, 2026. Following the sale, Sequans reported that it no longer holds any cryptocurrency assets.
The company also redeemed its convertible debt in May 2026 and currently has no outstanding debt other than obligations related to government-financed research and development projects.
Sequans said its semiconductor business continues to show growth momentum, with second-quarter 2026 product revenue increasing more than 80% year over year.
The company also reported that its six-month product backlog at the end of the quarter tripled compared with the same period last year.
Sequans continues development of its 5G eRedCap platform, designed for reduced-capability 5G applications, and its recently launched radio-frequency transceiver targeting software-defined radio applications.
