Sequans’s move here is pretty realistic—selling coins to repay debts, cutting down on fantasies about a treasury, and going back to doing IoT chips the honest way. The bull-market narrative of going all in on BTC sounds sexy, but when cash flow gets tight, it’s still the semiconductor business that can keep you fed. Leave the 658 BTC as a memento—at least it’s better than those who stubbornly hold on until the end.

French semiconductor company Sequans announced that it has completed the redemption of convertible debt related to its Bitcoin treasury. With 658 BTC remaining, the debt has been fully cleared. By selling nearly 80% of its holdings to repay the debt, it has ended its Bitcoin hoarding strategy. The CEO said it will strengthen its balance sheet, simplify its capital structure, and in the future focus on 4G/5G IoT semiconductor business. The company previously set up a treasury in 2025年6月 and had planned to increase it to 3000枚BTC, but has now shifted its focus to its core business.