Sequans Communications, a France-based fabless semiconductor firm, today announced the purchase of 1,264 Bitcoin (BTC) for a total of $150 million, averaging $118,659 per BTC. This latest acquisition brings the company’s total BTC holdings to 2,317 BTC.
Sequans recently closed a $384 million private placement, aimed at funding its growing Bitcoin treasury strategy. CEO Georges Karam emphasized that the company’s decision to increase BTC exposure is driven by a goal to enhance financial resilience and long-term strategic optionality.
According to details, the deal consisted of a $195 million sale of American depository shares (ADS). In addition, the deal included warrants at $1.40, with $189 million of five-year secured convertible debentures valued at a 4% discount.
Following today’s announcement, Sequans’ share price surged 8.2%, trading at $2.89 at the time of writing. However, the stock remains down by 12.5% on a year-to-date (YTD) basis.
Michael Saylor’s Strategy remains the undisputed leader, having announced an additional 6,220 BTC purchase today, worth nearly $740 million. As of now, Strategy holds 607,770 BTC at an average cost of approximately $71,756 per BTC.
Other names amongst the top 10 corporate Bitcoin holders include MARA Holdings, Riot Platforms, XXI, Metaplanet, Galaxy Digital Holdings, Tesla, and Coinbase. Major Bitcoin mining companies like CleanSpark Inc., and Hut 8 Mining Corp round out the list.
