Sequans Communications S.A. (NYSE: SQNS) experienced a significant market rally on Monday, with its shares climbing 19.78% to close at $5.39. The sharp rise came after the company disclosed the acquisition of an additional 683 bitcoin, valued at approximately $79 million.
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The purchase was executed at an average price, including fees, of roughly $116,213 per bitcoin. As of July 14, 2025, Sequans now holds a total of 1,053 bitcoins, acquired at an average cost of $113,893 per unit, totaling approximately $120 million in digital assets.
Execution of a Broader Bitcoin Treasury Strategy
This latest acquisition follows Sequans’ announcement last week that it had secured 370 bitcoin, initiating its bitcoin treasury strategy. That initial purchase was financed through a portion of the proceeds raised via the company’s recent offering of ordinary shares and convertible debentures, which closed on July 7, 2025.
The strategy marks a decisive pivot for Sequans as it aims to accumulate over 3,000 bitcoins in the near term as part of its long-term digital asset reserve plan.
Coinbase Chosen as Strategic Custodial Partner
To ensure secure and compliant custody of its bitcoin holdings, Sequans has partnered with Coinbase, selecting Coinbase Prime as its primary platform. Coinbase Prime offers a full-service institutional brokerage solution that combines liquidity, regulatory-grade infrastructure, and secure digital asset storage—meeting the complex requirements of enterprise-level crypto asset management.
Sequans’ decision to use Coinbase reflects its commitment to transparency, efficiency, and regulatory adherence as it scales its onchain asset exposure.
Capital Backing from Institutional Investors
In support of this strategic direction, Sequans successfully closed a previously announced private placement of equity and debt securities, raising $384 million. The offering drew participation from more than 40 institutional investors and provided the capital base to fund the company’s multi-phase bitcoin treasury strategy.
All net proceeds are earmarked for bitcoin purchases, underscoring Sequans’ intent to anchor part of its financial future in blockchain-based assets. With this bold move, Sequans positions itself at the forefront of corporate digital asset adoption, signaling a growing institutional shift toward bitcoin as a treasury reserve alternative.
