Semiconductor giant Sequans files to raise $200M to invest in Bitcoin treasury, as it seeks to increase its crypto assets as part of a bold treasury strategy.
French chipmaker Sequans Communications has filed to offer up to 200 million in a new stock issue. The money will be used to purchase more Bitcoin in its ambitious treasury policy.
Sequans aims to expand its Bitcoin holdings drastically. The company now owns more than 3,171 BTC, worth about 349 million at the time, ranked second in Europe as a corporate Bitcoin treasury after Bitcoin Group SE.
Sequans Targets Major Bitcoin Treasury Expansion
Equity offering Equans filed with the U.S. Securities and Exchange Commission to sell American Depository Shares at its discretion under the $200 million at-the-market equity offering.
The company will use the net proceeds, mainly to buy Bitcoin, strengthening its treasury reserves. Georges Karam, the CEO, explained that this will help to optimize the treasury and accelerate the increase in Bitcoin per share to create long-term shareholder value.
At the current prices, this increase would contribute about an extra 1,800 BTC, or a total of nearly 5,000 BTC of Bitcoin at Sequans.
From Chips to Crypto: A Strategic Shift
The Paris-based firm has been producing 4G and 5G IoT chips since its inception in June 2025, when it first announced Bitcoin as a core treasury asset.
This comes as part of a wider corporate shift in which public companies utilize Bitcoin as a form of store value and inflation hedge.
The list of publicly traded companies with Bitcoin nearly tripled in 2025 to more than 170 compared with less than 100 at the beginning of the year.
Equans is one of a rapidly expanding list of companies to adopt cryptocurrency in their balance sheets, alongside firms like Metaplanet and Nakamoto Holdings, which have recently been stepping up their Bitcoin holdings substantially.
Corporate Bitcoin Adoption Accelerates Despite Risks
Although the stance of major tech companies such as Amazon, Meta, and Microsoft is rather cautious related to the price volatility and regulatory risks of Bitcoin, Sequans is betting on Bitcoin and other digital assets diversification.
Swan Bitcoin collaborates with the company in its treasury management, and thus, the company has secured custody and acquisition of Bitcoin.
Semiconductor multinational Equans takes a giant leap that marks one of the biggest Bitcoin treasury moves that a semiconductor multinational has made, an early stage of digital asset integration into traditional sectors.
Strategic investment reflects the confidence in the scarcity and strength of Bitcoin as an asset class and against uncertain macroeconomic conditions and de-dollarization trends.
The shares of the company, which were under pressure in the past, have responded well to the initiatives, with indications of investor confidence after the filing.
