6 hours ago
French semiconductor institution Sequans Communications filed for a $200 cardinal at-the-market equity offering connected Monday to substance its Bitcoin treasury strategy — with the longer-term purpose to amass 100,000 Bitcoin by 2030.
The programme volition let the 4G and 5G chipmaker to contented American Depositary Shares — US dollar-denominated equity shares of a overseas institution that are traded connected US banal exchanges — astatine its discretion, it said successful a filing to the Securities and Exchange Commission connected Monday.
“We mean to usage it judiciously to optimize our treasury, summation Bitcoin per share, and present semipermanent worth to shareholders,” Sequans CEO Georges Karam said successful a statement.
Source: SequansBitBo’s Bitcoin treasury data shows the Paris-based institution presently holds 3,171 Bitcoin (BTC) worthy $349 cardinal connected its equilibrium sheet, making it Europe’s second-largest firm Bitcoin treasury aft Germany’s Bitcoin Group SE, which owns 12,387 BTC.
Sequans archetypal unveiled its program to usage Bitcoin arsenic a halfway treasury asset connected June 23, joining a increasing inclination of publically traded companies adopting the cryptocurrency arsenic an ostentation hedge and store of value. It has antecedently said it is striving to amass 100,000 Bitcoin by 2030.
The fig of nationalist companies holding Bitcoin has risen to 174, up from less than 100 astatine the commencement of 2025.
Sequans could notch 5,000 Bitcoin with the proceeds
The semiconductor company said the timing and measurement of immoderate stock income nether the equity programme volition beryllium astatine the company’s discretion, determined by marketplace conditions and different factors.
Net proceeds from the offering are expected to beryllium “primarily utilized to proceed accumulating Bitcoin successful alignment with the Company’s treasury strategy,” Sequans said.
At existent marketplace prices, $200 cardinal could bargain Sequans different 1,814 BTC, bringing its full Bitcoin stash to astir 5,000 BTC — astir the aforesaid magnitude arsenic what Semler Scientific presently holds.
Sequans closed Monday trading astatine $0.96, down 6.8% implicit the trading day. It has since risen 0.41% successful after-hours trading.
Bitcoin treasury companies are buying the dip
The $200 cardinal equity offering comes amid a Bitcoin pullback to $110,045, 11.6% disconnected the $124,517 all-time high it acceptable connected Aug. 14.
The largest firm Bitcoin holder, Strategy, scooped up another 3,081 Bitcoin connected Monday — bringing its full to 632,457 BTC — portion Metaplanet bought 103 BTC to commencement the week
ETH treasury companies bargain the spotlight
Corporate Bitcoin adoption has slowed precocious owed to the emergence of Ether (ETH) treasury companies, with BitMine Immersion Technologies — primitively a Bitcoin mining company, present turned ETH treasury institution — present holding the second-largest crypto treasury with $7.5 cardinal successful ETH.
Related: Strategy buys $357M successful Bitcoin arsenic terms drops to $112K
SharpLink and The Ether Machine circular retired the apical 3 ETH treasury institution holdings with $3.24 cardinal and $1.51 cardinal successful holdings, respectively, according to StrategicETHReserve.xyz.
The ETH treasury adoption has contributed to ETH’s 198% terms rally since April 9, making up mislaid region connected Bitcoin from earlier successful the existent bull cycle.
Magazine: Bitcoin’s semipermanent information fund problem: Impending situation oregon FUD?
English (US) 