Sequans Communications (NYSE: SQNS), the Paris-based cellular IoT semiconductor company, has completed the full redemption of its remaining convertible debt, funded by the sale of a portion of its Bitcoin holdings — bringing a short-lived and costly digital asset treasury experiment to a close.

The company now holds approximately 658 BTC, described as “fully unencumbered,” following the retirement of all convertible notes issued in July 2025. Sequans said it plans to monetize the remaining Bitcoin over time, though it did not specify a timeline or method.

Sequans’ bitcoin bet that backfired

The retreat caps a strategy that began in June 2025, when Sequans announced…

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