Another company shuts down Bitcoin treasury

Sequans Communications (NYSE: SQNS), a starring supplier of 5G/4G cellular IoT semiconductor solutions, announced connected May 28 that it has completed the redemption of each remaining indebtedness tied to its Bitcoin (BTC) treasury.

The Paris-based institution said it was the merchantability of astir 80% of its full Bitcoin holdings that funded the indebtedness redemption.

Related: Michael Saylor yet wants to merchantability Bitcoin

The institution volition present modulation to a adjacent debt-free equilibrium expanse with accrued fiscal flexibility and focus lone connected its halfway IoT and cellular semiconductor business, it said.

As of now, Sequans holds astir 658 Bitcoin, present afloat unencumbered, on its equilibrium sheet. Though the institution said it is readying to "monetize" its remaining Bitcoin implicit time, it didn't uncover immoderate further details.

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Sequans' abbreviated Bitcoin travel

Sequans said successful June 2025 that it planned to rise $384 cardinal via a operation of indebtedness and equity instruments to make a Bitcoin treasury.

The adjacent month, it announced the acquisition of 370 Bitcoin and said it planned to get 3,000 Bitcoin wrong "weeks."

Sequans indeed acquired arsenic overmuch arsenic 3,000 Bitcoin by the extremity of July and kept buying much astatine regular intervals. But the flash clang connected Oct. 10 made the institution reconsider the decision.

The institution archetypal sold 970 BTC successful November 2025, and past 1,025 BTC successful the archetypal 4th of 2026. It chopped the holdings to 1,114 BTC arsenic of April 30, and the latest update shows it present holds approximately 658 Bitcoin.

"Looking ahead, we bash not mean to further prosecute our treasury strategy," CEO Georges Karam had revealed during the Q1 2026 net call.

Bitcoin, which reached the grounds precocious terms of $126,080 on Oct. 6, 2025, is presently trading 40% little astatine $73,467.

Related: Popular crypto banal rises aft Bitcoin merchantability of $1.1 billion

This communicative was primitively published by TheStreet connected May 30, 2026, wherever it archetypal appeared successful the MARKETS section. Add TheStreet arsenic a Preferred Source by clicking here.