Sequans Communications (SQNS), a leading cellular semiconductor maker, has announced its acquisition of 370 bitcoin BTC as part of a newly launched bitcoin treasury strategy.

The purchase was funded by proceeds from its recent equity and convertible debenture offering that closed on July 7.

“We are excited to begin executing our strategic plan to accumulate over 3,000 BTC in the coming weeks,” said Georges Karam, CEO of Sequans. “This initiative reflects our confidence in bitcoin as a long-term store of value for our shareholders.”

Sequans has chosen Coinbase as custodian, utilizing Coinbase Prime’s institutional-grade services.

Sequans Communications shares are up 2% in pre-market trading following the announcement of its bitcoin treasury strategy.

Polkadot’s DOT (DOT) surged as much as 5% in the last 24-hours, climbing from $3.52 to $3.70 as bulls dominated the session, according to CoinDesk Research’s technical analysis model.

The model showed that a key breakout occurred at 19:00 on July 9, with DOT spiking to $3.63 on heavy volume of 4.21 million.

The rally in Polkadot came as the wider crypto market also rose, with the broader market gauge, the CoinDesk 20, recently up 3.5%.

Bitcoin, the world’s largest cryptocurrency, was approaching all-time highs at $112,000.

In recent trading, DOT was 3.5% higher over 24 hours, trading around $3.67.

Technical Analysis:

• Robust volume-based support established around $3.54 during the 18:00-21:00 surge on 9 July.
• Key resistance levels identified at $3.69-$3.70 where price encountered dual reversals during the session.
• Conventional support formed at $3.49 during the 14:00 session decline on 9 July.
• Critical support established around $3.68 levels during the 60-minute bearish pressure period.
• Momentum indicators signal oversold conditions suggesting potential consolidation.
• Elevated trading volumes exceeded 4.2 million during the principal rally phase.

Cryptocurrency miner BIT Mining (BTCM) is shifting its focus to Solana with plans to raise up to $300 million to acquire SOL tokens.

BIT Mining said it wants to «capture emerging opportunities across the broader blockchain» industry and attract investors seeking exposure to Solana in an announcement on Thursday.

The company’s New York Stock Exchange-listed shares soared as high as $11.20 in pre-market trading, over 350% compared to Wendesday’s closing price of $2.46, following the announcement.

At press time, BTCM was trading nearly 250% higher at $8.38.

Akron-Ohio-based BIT Mining will convert its existing crypto holdings into SOL and plans to raise $200 million-$300 million to accumulate more.

The company holds 19 BTC ($2.1 million), according to Bitcoin Treasuries.

Bitcoin miners have been seeking means of diversifying their revenue streams since the last quadrennial halving event in April 2024, which saw the reward for adding new blocks to the Bitcoin network reduced by 50%.

BIT Mining said in December that its profits from mining litecoin (LTC) and dogecoin (DOGE) were triple that which it had acquired from BTC.

Fellow mining firm Bit Digital has shifted its entire treasury to ETH as part of a plan to focus solely on ether staking.