Sequans Communications (NYSE: SQNS), a Paris-based IoT semiconductor company, has completed the repurchase of its outstanding debt, backed by a sale part of his Bitcoin investment – bringing the short term and expensive digital economy experiment to an end.
The company now has about 658 BTC, which is described as “unlimited,” following the cancellation of all convertible notes issued in July 2025. Sequans said it plans to monetize the remaining Bitcoin over time, although it did not specify a time or method.
Sequans bitcoin bet that paid off
Returning it creates a process that started in June 2025, when Sequans announced plans to raise $385 million through loans and equity to start a Bitcoin economy.
By the end of July, CEO Georges Karam described Bitcoin as “a store of value for its owners,” with the goal of achieving 3,000 BTC within weeks. The company crossed the threshold at the end of the month.
The opening began in November 2025 when Bitcoin fell from always at the top $126,000 to about $80,000. Sequences to be sold 970 BTC that month, followed by 125 BTC in February 2026, and another 1,025 BTC in the first quarter – a reduction of holdings of 1,114 BTC as of April 30. The announcement on Thursday confirmed the reduction of another 658 BTC, showing a total sale of more than 80% of the tips of the reserves.
Investors who bought shares during the Bitcoin boom last July are sitting on losses of more than 90%. SQNS shares rose 10% on Thursday following the announcement.
With debt retired, Sequans changes to what it calls “almost a debt-free balance sheet,” giving the company greater financial flexibility heading into the second half of 2026. This move eliminates the liability associated with the volatility of the price of Bitcoin, a risk that this management had a history of in the past.
“We’ve strengthened our capital, simplified our investment, and are now focused on growing our IoT semiconductor business,” Karam said in a statement Thursday.
Sequans also focuses on its 4G LTE-M and Cat-1bis devices, which serve markets including smart metering, asset tracking, telematics, security, and industrial IoT. The company is also advancing its 5G eRedCap platform – the next-generation IoT standard – as a long-term growth driver.
Karam framed Thursday’s announcement as the start of an active phase. “Build on our growing 4G and RF transceiver product portfolio, accelerate our path to profitability, and advance our 5G roadmap,” he said.
