The company stated on Monday that the plan is part of its long-term goal to accumulate 100,000 BTC by 2030.

French chipmaker Sequans Communications announced a plan to raise up to $200 million through a market equity plan, with proceeds to be used to expand its growing Bitcoin treasury.

The company, listed on the New York Stock Exchange under the ticker SQNS, stated on Monday that the plan is part of its long-term goal to accumulate 100,000 BTC by 2030.

Sequans will sell American depositary shares to purchase Bitcoin.

The Paris-based semiconductor company, known for its 4G and 5G chips, will decide independently when to sell American depositary shares based on market conditions.

"We intend to use it wisely to optimize our capital, increase our Bitcoin per share, and create long-term value for our shareholders," said CEO George Karame in a filing with the U.S. Securities and Exchange Commission.

Sequans disclosed its Bitcoin strategy in June, joining a wave of publicly traded companies adopting BTC as treasury reserve assets.

According to BitBo data, the company currently holds 3,171 BTC, valued at approximately $349 million, making it the second-largest corporate Bitcoin holder in Europe, behind the German Bitcoin Group, which holds 12,387 BTC.

At current prices, the new funding could buy approximately 1,814 BTC, bringing Sequans' holdings close to 5,000 BTC, on par with Semler Scientific.

At the time of the announcement, corporate Bitcoin adoption is continuing to expand globally. The number of publicly traded companies holding BTC on their balance sheets has risen from less than 100 at the beginning of 2025 to 174 this year.

Strategy remains the largest holder, with 632,457 BTC, while Japan's Metaplanet and other companies have recently increased their smaller holdings.

Sequans' move comes against a backdrop of turbulent markets. Bitcoin is trading at $110,045, down over 11% from its historical high of $124,517 in mid-August.

Sequans' stock closed at $0.96 on Monday, down 6.8% on the day, then rose slightly in after-hours trading.

Meanwhile, competitors' treasury strategies are becoming increasingly popular in Ether. Companies like BitMine Immersion Technologies, SharpLink, and The Ether Machine collectively hold billions of dollars in ETH, causing the token to surge 198% since April.

Galaxy, Jump, and Multicoin plan a $1B Solana treasury bet.

According to reports, Galaxy Digital, Jump Crypto, and Multicoin Capital are in negotiations to raise around $1 billion to establish the largest Solana treasury to date.

Bloomberg reports that Cantor Fitzgerald has been appointed as the chief banker, and the Solana Foundation supports the deal, which could be completed by early September.

The plan involves taking over a publicly listed company and transforming it into a digital asset treasury tool dedicated to Solana.

Similarly, Pantera Capital is preparing to raise up to $1.25 billion to transform a Nasdaq-listed company into 'Solana Co.', a public tool designed to accumulate Solana (SOL) as treasury assets.

The plan reportedly involves raising an initial $500 million, followed by raising $750 million through warrants.

If completed, this would mark one of the largest efforts to create a public Solana treasury tool.

This move comes after Pantera revealed earlier this month that it had deployed around $300 million to a digital asset treasury (DAT) company.