Bitcoin News Today: Sequans Bets Chips and Capital on Bitcoin’s Long-Term Future

Semiconductors firm Sequans Communications S.A. (NYSE: SQNS) announced on August 25, 2025, the initiation of an “at the market” equity offering program (ATM Program) to raise up to $200 million in funding, which will be allocated toward the company’s long-term Bitcoin treasury strategy [1]. The company filed a prospectus with the U.S. Securities and Exchange Commission (SEC) under a shelf registration statement on Form F-3, allowing it to issue American Depositary Shares (ADS), each representing ten ordinary shares [1]. The program is intended to optimize the company’s treasury, increase Bitcoin per share, and deliver long-term value to shareholders, according to Dr. Georges Karam, CEO of Sequans [1].

Sequans, a fabless semiconductor company specializing in wireless 4G/5G cellular technology for IoT applications, has already acquired and holds more than 3,000 Bitcoin (BTC), valued at approximately $331 million at current market prices [2]. This makes it one of the largest corporate Bitcoin holders in Europe, second only to Germany’s Bitcoin Group SE [2]. The company’s stated goal is to accumulate 100,000 BTC by 2030 [3], a target that, if achieved, would significantly expand its current holdings and further align its valuation with Bitcoin’s performance.

The ATM Program allows Sequans to issue shares at its discretion, with the timing and volume of sales contingent on market conditions and other factors [1]. The net proceeds from the offering are expected to be primarily used to continue acquiring Bitcoin under its treasury strategy [1]. At current prices, the $200 million target could secure an additional 1,814 BTC, pushing the company’s total holdings to nearly 5,000 BTC [3]. This strategy, however, is not without risks. Analysts note that equity-funded Bitcoin purchases involve shareholder dilution and increased exposure to Bitcoin’s price volatility [4]. Dan Dadybayo of Unstoppable Wallet highlighted that while such a model offers long-term alignment with Bitcoin’s growth, it also exposes shareholders to operational and financial risks, particularly during downturns [4].

The company’s Bitcoin treasury strategy is part of a broader trend among publicly traded companies, with the number of firms holding Bitcoin now exceeding 174 globally [3]. This trend is partly driven by Bitcoin’s role as a hedge against inflation and a store of value, especially in times of economic uncertainty. Sequans is one of several firms leveraging structured financing mechanisms—such as convertible notes, warrants, and ATM programs—to scale Bitcoin holdings [4]. While the approach has proven effective in bullish markets, it introduces complexities that differ significantly from traditional investment models. Shareholders must consider not only the crypto holdings but also the capital structures and financial engineering strategies employed by these companies to sustain and grow their treasuries [4].

The announcement of Sequans’ ATM program comes at a time of renewed interest in corporate Bitcoin holdings, despite recent market corrections. Bitcoin has pulled back from its all-time high of $124,517, trading near $110,045 as of the announcement [3]. Nevertheless, Sequans and others in the space continue to pursue accumulation strategies, betting on Bitcoin’s long-term value proposition. The company’s management believes that its dual focus on semiconductor innovation and strategic Bitcoin reserve positions it for long-term value creation [1]. However, the success of this dual strategy depends on Sequans’ ability to manage operational discipline and avoid overleveraging during periods of market downturn [4].

Source:

[1] Sequans Introduces “At The Market” (ATM) Equity Program to Support Long-Term Bitcoin Treasury Strategy (https://sequans.com/sequans-introduces-at-the-market-atm-equity-program-to-support-long-term-bitcoin-treasury-strategy/)

[2] French Chipmaker Sequans Plans $200 Million Share Sale to ... (https://finance.yahoo.com/news/french-chipmaker-sequans-plans-200-063913236.html)

[3] Semiconductor company Sequans is raising $200M to buy ... (https://cointelegraph.com/news/sequans-files-200-million-equity-offering-buy-bitcoin)

[4] Crypto Treasury Myth: Investors Are Misunderstanding ... (https://www.newsweek.com/crypto-treasury-myth-investors-are-misunderstanding-150-billion-market-2119777)