Bitcoin News Today: Sequans Launches $200M ATM Equity Program to Expand Bitcoin Holdings

Sequans Communications S.A., a fabless semiconductor company known for its 4G/5G solutions in IoT applications, has initiated a $200 million at-the-market (ATM) equity program aimed at expanding its Bitcoin treasury [1]. This move builds on the company’s current Bitcoin holdings of over 3,000 BTC, valued at approximately $331 million, with a long-term target of acquiring 100,000 BTC by 2030 [2]. The ATM program, registered under a Form F-3 shelf filing with the SEC, allows the company to issue American Depositary Shares (ADSs) opportunistically, offering flexibility to raise capital in favorable market conditions [3].

The proceeds from the ATM program will be allocated primarily to the purchase of Bitcoin, reflecting the company’s strategic decision to integrate the cryptocurrency into its corporate treasury. This approach aligns with broader trends among technology firms seeking to diversify corporate assets and hedge against macroeconomic uncertainties through Bitcoin exposure. Sequans has previously raised $189 million through secured convertible debentures and warrants, bringing total recent capital to approximately $376 million to support both Bitcoin accumulation and operational needs [2].

CEO Dr. Georges Karam has emphasized the disciplined and strategic nature of the initiative, framing Bitcoin as a core component of the company’s long-term capital plan rather than a speculative bet [4]. The company’s stated objective is to enhance shareholder value by increasing Bitcoin per share over time, leveraging its financial resources and operational efficiency to achieve this goal. The ATM mechanism also allows for flexibility in execution, ensuring that Sequans can respond to evolving market dynamics without locking in at potentially unfavorable prices [3].

However, the decision to fund Bitcoin purchases through equity issuance introduces dilution risk for existing shareholders. As noted by Dan Dadybayo of Unstoppable Wallet, this strategy increases the company’s exposure to Bitcoin’s volatility while requiring careful management of drawdowns and operational liquidity [5]. The company’s ability to balance these risks will be critical to maintaining investor confidence and ensuring that the treasury strategy delivers long-term value rather than short-term volatility.

Sequans’ approach mirrors that of MicroStrategy and other firms that have adopted Bitcoin as a strategic asset [6]. However, unlike many of its peers, Sequans is not diversifying into multiple cryptocurrencies, instead focusing exclusively on Bitcoin as its preferred reserve asset. This decision underscores a clear and deliberate capital allocation strategy, emphasizing long-term appreciation and alignment with macroeconomic trends.

The company’s global operations, with offices in the U.S., U.K., Switzerland, Israel, Singapore, Finland, and other international markets, reinforce its position as a technologically advanced firm with a forward-looking financial strategy [7]. As it moves forward with the phased implementation of the ATM offering, market participants will closely watch how the company balances its Bitcoin accumulation goals with operational and shareholder considerations.

The initiative highlights the growing corporate adoption of Bitcoin and signals a shift in how publicly traded companies are managing their treasuries in a digital age. Sequans’ structured and transparent approach may serve as a model for other firms exploring similar strategies, while also contributing to broader market dynamics around institutional Bitcoin demand and price stability.

[1] Sequans Communications S.A. (2025, August 20). 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] AInvest (2025, August 22). Bitcoin News Today: Sequans Launches $200M ATM Offering to Buy 3,072 Bitcoin. https://www.ainvest.com/news/bitcoin-news-today-sequans-launches-200m-atm-offering-buy-3-072-bitcoin-2508/

[3] MEXC (2025, August 22). A Bold $200M Move Into Crypto. https://www.mexc.com/news/a-bold-200m-move-into-crypto/73851

[4] AInvest (2025, August 23). Bitcoin News Today: Sequans Launches $200M Equity Offering to Expand Bitcoin Holdings. https://www.ainvest.com/news/bitcoin-news-today-sequans-launches-200m-equity-offering-expand-bitcoin-holdings-2508/

[5] CoinGlass (2025, August 23). Semiconductor company Sequans is raising $200M to buy ... https://www.coinglass.com/ru/news/541827

[6] COINOTAG (2025, August 26). Sequans Files for $200M At-The-Market Equity Program to Potentially Expand Bitcoin Reserves. https://en.coinotag.com/sequans-files-for-200m-at-the-market-equity-program-to-potentially-expand-bitcoin-reserves/