• Sequans Communications has initiated a $200 million equity offering to back its Bitcoin treasury strategy, with a target set for 2030.
• Holding 3,171 BTC worth $349 million, the company plans to significantly increase its Bitcoin holdings as part of its long-term strategy.
• Ether treasury companies like BitMine and SharpLink see significant growth, narrowing the gap with Bitcoin’s dominance.

Sequans Communications, a French semiconductor company, has registered a $200 million at-the-market proposed equity offering. This action will be to energize the Bitcoin treasury strategy of the company. The target is to reach 100,000 Bitcoin by 2030. On Monday, Sequans submitted the filing with the U.S. Securities and Exchange Commission (SEC).

Sequans will provide American Depositary Shares (ADS) discretionarily through the equity offering. The shares are listed on U.S. exchanges and are denominated in U.S. dollars. According to CEO Georges Karam, the company will allocate the funds to the acquisition of additional Bitcoin and the creation of long-term value for its shareholders.

Sequans Holds $349M in Bitcoin, Targeting Larger Treasury by 2030

Sequans currently holds 3,171 Bitcoin, which is valued at approximately $349 million, according to BitBo’s Bitcoin treasury data. This places it as the second-largest corporate Bitcoin owner in Europe, following the Germany-based Bitcoin Group SE, which possesses 12,387 BTC. On June 23, the company also started incorporating Bitcoin into its treasury, making it a part of a wider trend of companies holding the cryptocurrency as a hedge against inflation.

There has been a substantial increase in the number of public companies that have adopted Bitcoin in 2025. The number of companies has increased to 174 compared to less than 100 at the beginning of the year. Sequans will base its initial public offering on market conditions to enable it to sell its equity flexibly.

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Bitcoin Holdings Near 5,000 BTC After $200M Offering

At present market prices, the $200 million offering could purchase an additional 1,814 Bitcoin. This would make the total holdings of Sequans approach 5,000 BTC. This would put the company in a similar position to Semler Scientific, which has approximately a similar amount of Bitcoin.

The stock of Sequans closed at $0.96 on Monday, a 6.8% decrease from the previous trading day. Nonetheless, the share appreciated 0.41% after-hours trading. The increase is after a pullback of Bitcoin, with the cryptocurrency trading at 11.6 percent below its all-time high of 124,517, which was recorded on August 14.

SharpLink and The Ether Machine have the second and third largest Ethereum treasuries, totalling $3.24 billion and $1.52 billion, respectively, according to StrategicETHReserve.xyz.

Despite the adoption of Bitcoin, Ether treasury firms have experienced massive growth. At present, BitMine Immersion Technologies possesses $7.5 billion in Ethereum (ETH). The increase in the number of Ether holdings helped drive the price of ETH up by 198 percent, closing in on Bitcoin within the recent cycle.

Also Read: Stablecoins Could Disrupt Banks, Similar to 1980s Financial Crisis: Report