Sequans Communications, a Paris-based chipmaker, is liquidating its Bitcoin holdings after a failed treasury strategy. The company has already sold 456 BTC and plans to sell its remaining 658 BTC, marking the end of its Bitcoin investment. Initially, Sequans aimed to accumulate over 3,000 BTC after raising $384 million through equity and convertible debentures in July 2025. The sell-off began in November 2025, with the company reducing its Bitcoin holdings to manage debt. By April 2026, Sequans had sold 1,025 BTC, leaving 1,114 BTC, of which 817 were collateralized. The recent sales are part of a strategy to redeem convertible debt by June 1, 2026. Despite these efforts, Sequans reported a Q1 2026 revenue decline of 24.8% year-over-year, with a net loss of $54.3 million, highlighting the challenges of its Bitcoin venture.