French semiconductor company Sequans Communications has sold more than 1,200 bitcoins in the second quarter, cutting holdings to 314 by quarter-end, valued at about $18.4 million. The company used sales to repay convertible bonds and improve its financial structure. Sequans posted a $5.3 million realised net profit on second-quarter bitcoin sales after a $11.7 million realised loss in the first quarter. It reported revenue growth and cited progress in its IoT semiconductor business.

Bitcoin mining companies are redirecting power and facilities to AI infrastructure as mining profitability deteriorates. Some large miners have begun converting sites, signing long-term computing contracts and cutting new mining equipment spending. Bitcoin trades around $64,000, about 50% below its October 2025 peak, while fees lag and the April 2024 halving cut block rewards. AI data centres offer higher power rates and long-term deals, but critics warn the shift may be poorly timed and difficult to reverse due to high capital costs.