French semiconductor company Sequans Communications filed for a $200 million at-the-market equity offering on Monday to fuel its Bitcoin treasury strategy — with the longer-term aim to amass 100,000 Bitcoin by 2030.
The program will allow the 4G and 5G chipmaker to issue American Depositary Shares — US dollar-denominated equity shares of a foreign company that are traded on US stock exchanges — at its discretion, it said In a Monday filing with the Securities and Exchange Commission.
“We intend to use it judiciously to optimize our treasury, increase Bitcoin per share, and deliver long-term value to shareholders,” Sequans CEO Georges Karam said A statement is a good example.
BitBo’s Bitcoin Treasury data Shows the Paris based company’s current holding of 3,171 BitcoinBTCThe company’s balance sheet shows that it has a Bitcoin Treasury worth $349 Million, the second largest corporate Bitcoin Treasury in Europe after Germany’s Bitcoin Group SE.
Sequans unveils its first plan to use Bitcoin as a core treasury asset On June 23, join the growing trend among publicly-traded companies to adopt cryptocurrency as a hedge against inflation. store of value. Previous reports have stated that striving Amassing 100,000 Bitcoins by 2030
From fewer than a hundred at the beginning of 2025, there are now 174 public companies that hold Bitcoin.
With the proceeds, Sequans will be able to earn 5,000 Bitcoin
It is important to note that the word “you” means “you”. semiconductor company The timing and amount of shares sold under the equity plan will be determined at the discretion of the company, based on market conditions.
Expected net proceeds are “primarily used to continue accumulating Bitcoin in alignment with the Company’s treasury strategy,” Sequans said.
At current market prices, $200 million could buy Sequans another 1,814 BTC, bringing its total Bitcoin stash to nearly 5,000 BTC — roughly the same amount as what Semler Scientific currently holds.
Sequans ended Monday’s trading session at $0.96. This is a 6.8% decline from the previous trading day. In after-hours trades, the stock has gained 0.41%.
The dip is being bought by Bitcoin Treasury companies
Bitcoin is down to $110 045, or 11.6%, from the previous price. $124,517 all-time high It was released on August 14.
Strategy has become the biggest corporate Bitcoin owner. another 3,081 Bitcoin on Monday — bringing its total to 632,457 BTC — while Metaplanet bought Start the week with 103 BTC
ETH treasury corporations steal the spotlight
Recently, corporate Bitcoin adoption has been slowed due to Ether’s rise (ETHTreasury companies (treasury corporations) BitMine Immersion Technologies — originally a Bitcoin mining company, now turned ETH treasury company — now holding the second-largest crypto treasury with $7.5 billion in ETH.
Related: Strategy buys $357M in Bitcoin as price drops to $112K
SharpLink, The Ether Machine, and The Ether Machine are the next two treasury companies with holdings of $3.24 and $1.51 respectively. according to StrategicETHReserve.xyz.
Since April 9, ETH prices have risen 198%, regaining lost ground on Bitcoin.
Magazine: Bitcoin’s long-term security budget problem: Impending crisis or FUD?
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Source: cointelegraph.com
