French semiconductor company Sequans Communications has opened a 200 million at-the-market (ATM) capital raising to grow its Bitcoin treasury. The company has ambitious plans to purchase loads of Bitcoin and plans to have 100,000 Bitcoin by year 2030. Intel submitted a filing to the U.S. Securities and Exchange Commission.
Equity Sale to Drive Bitcoin Accumulation
Sequans confirmed it would sell American Depositary Shares (ADS) on U.S. markets under the equity program. These shares, denominated in U.S. dollars, will be issued at the company’s discretion depending on market conditions. The chipmaker emphasized that proceeds will primarily support its Bitcoin treasury strategy.
CEO Georges Karam stated, “We intend to use it judiciously to optimize our treasury, increase Bitcoin per share, and deliver long-term value.” The firm aims to execute the offering in phases, adjusting based on timing and pricing efficiency. Sequans also clarified that there’s no obligation to sell the entire $200 million in one go.
Currently, Sequans holds 3,171 BTC, valued at approximately $349 million, making it Europe’s second-largest corporate holder. Germany’s Bitcoin Group SE leads with 12,387 BTC. Sequans originally disclosed its Bitcoin treasury plan on June 23, 2025.
Also Read: Metaplanet Treasury Corp Debuts in U.S. With $250M Bitcoin Buy
Sequans Strengthens Treasury Strategy Amid Market Changes
The firm’s long-term goal is to amass 100,000 BTC by the end of this decade. With $200 million in new capital, Sequans could purchase an estimated 1,814 more BTC at current prices. This would raise its total to nearly 5,000 BTC, placing it among the top ten corporate holders globally.
Although Bitcoin recently pulled back to $110,045 from its all-time high of $124,517, companies like Sequans continue accumulating. The dip has created buying opportunities for treasury-focused corporations. This strategy aligns with the broader trend of Bitcoin adoption as a hedge against inflation.
Meanwhile, the total number of public firms holding Bitcoin has climbed to 174, up from fewer than 100 at the start of the year. Sequans joins a growing list of companies integrating cryptocurrency into their financial playbook. The strategy reflects a shift toward digital assets for balance sheet diversification.
Corporate Bitcoin Treasury Trend Faces ETH Competition
Though Bitcoin remains dominant, Ethereum is gaining traction in treasury portfolios. ETH-focused firms like BitMine Immersion Technologies now hold significant assets, with over $7.5 billion in ETH. SharpLink and The Ether Machine follow with holdings of $3.24 billion and $1.51 billion, respectively.
This trend toward ETH has slightly slowed corporate Bitcoin treasury growth. Yet companies like Sequans continue to prioritize BTC accumulation as a long-term asset. The company’s decision marks one of the largest BTC-focused treasury moves by a European tech firm.
Strategy remains the largest corporate Bitcoin holder, recently increasing its total to 632,457 BTC. In comparison, Sequans remains a small but growing participant in the corporate Bitcoin ecosystem. Still, its $200 million move signals confidence in the cryptocurrency’s future value.
Also Read: Why BitMine’s $18M Raise Isn’t Just About Mining, It’s About HODLing
Summary
Sequans Communications has launched a $200 million equity offering to fuel its Bitcoin treasury expansion strategy. The company aims to grow its holdings from 3,171 BTC to potentially 100,000 BTC by 2030. This move places Sequans among a rising number of public companies using Bitcoin as a strategic treasury asset amid shifting global market dynamics.
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Glossary of Key Terms
Bitcoin treasury – This is the business case where the firm puts aside some of its assets into Bitcoin to hold its value.
American Depository Shares (ADS)- listed shares of stock representing a foreign company that are issued to raise capital in the United States.
At-the-market (ATM) offering- Is the one that allows firms to issue new stocks to the market in installments.
BTC – The most common term for the largest cryptocurrency by market capitalization, Bitcoin.
Inflation hedge –An investment with the aim of protecting against the purchasing power loss of a currency owing to inflation.
FAQs for Sequans’ Bitcoin Treasury
How much is the Bitcoin treasury target that looks at Sequans?
Equity funding and purchase of BTC on the market should help Equans in reaching the target of 100,000 BTC at the market price.
How is the $200 million to literary to be spent?
Most of the funding proceeds will be used in amassing Bitcoin as per the business of hoarding performing with the company.
What is at-the market equity offering?
It enables an organization to sell its shares over time in the open market.
Why is Sequans investing in Bitcoin?
Sequans considers Bitcoin a store of value and inflation hedge, aligning with other firms adding BTC to their treasuries.
Who regulates this offering?
The U.S. Securities and Exchange Commission (SEC) oversees the equity program as it involves U.S.-listed shares.
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