Sequans Shifts Bitcoin Cash to Chips for Drones
The company sold its final 314 Bitcoin and is pushing its Iris RF transceiver into defense, drone, and space markets, with production shipments expected in Q4 2026.
Updated on Nov. 4, 2026 in Quantum Computing
Sequans Communications completed its exit from digital assets, selling its final 314 Bitcoin for $24.6 million to focus on its semiconductor business. The move was announced on the company's third quarter 2026 earnings call on November 3, 2026. The exit is completed, not announced future action.
Why it matters
Liquidating the Bitcoin holdings removes non-operating volatility from the balance sheet, letting capital flow to chip development instead. It signals a semiconductor firm choosing focused operations over treasury speculation.
The company's quarterly report shows product sales rising fourfold year over year, with $39.8 million in cash and short-term deposits and no debt. The source does not provide a comparator for the Bitcoin sale beyond the $24.6 million in proceeds, and it does not say how the Iris RF transceiver's performance compares with competing parts.
The players
Sequans Communications
A French semiconductor company that makes cellular IoT chips and, with its Iris RF transceiver, is expanding into defense, drone, and space markets.
The details
Sequans had held Bitcoin as a treasury asset, and management closed that strategy by liquidating the full position of 314 coins. The proceeds went into the company's balance sheet, which it describes as debt-free. The firm is now concentrating on its Iris RF transceiver, a radio-frequency chip that it is pushing beyond commercial cellular markets into defense, drone, and space applications.
Timeline
- Q3 2026: The company's third quarter 2026 earnings call announced the digital asset exit.
- November 3, 2026: The earnings call was held and the exit was disclosed.
- Q4 2026: Shipments to the first drone customer are expected to begin.
- Second half of 2027: The company's customer order backlog extends into this period.
The Tech Race
Sequans is moving its Iris RF transceiver out of commercial cellular and into defense, drone, and space markets, where it reports over 20 customer leads. The company's focus on this chip, rather than on digital assets, places it in a competitive push among semiconductor firms to serve defense and drone supply chains.
Customers in defense, drone, and space markets who are evaluating the Iris RF transceiver may see the company move from lead generation to production. The source does not give pricing or a general availability date for the chip beyond the first drone customer's expected Q4 2026 shipments.
The takeaway
Watch whether the first drone customer's shipments begin in Q4 2026 and whether the more than 20 customer leads, representing over $30 million in potential three-year revenue, convert into production orders. Those two results will show whether the pivot away from digital assets translates into semiconductor revenue.
What happens next
Shipments to the first drone customer are expected to begin in Q4 2026, the first concrete milestone for the Iris RF transceiver's new defense and drone business.
Further reading
For context on how chip makers are reshaping their product focus, see the Quantum Computing section.
Source note: This article includes information reported by The Motley Fool.
