NYSE-listed semiconductor company Sequans Communications announced this week it had sold its remaining 34 BTC, ending its Bitcoin treasury strategy. The company began its BTC exit in May with 658 units, reduced holdings to 314 BTC by June 30, and divested everything by late September. This move is part of a broader balance sheet restructuring focused on debt reduction and refocusing on its core semiconductor business, rather than a bearish call on Bitcoin itself. The company also reported product revenue rising more than 80% year-over-year in Q2 and its six-month product backlog more than tripling.
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