Semler Scientific Boosts Bitcoin Bet with $20M Purchase

Semler Scientific, a Nasdaq-listed healthcare technology company, has taken another big step into the world of Bitcoin (BTC). Between May 23 and June 3, the firm acquired an additional 185 BTC for about $20 million. 

The average price for each Bitcoin was around $107,974. This update was revealed in a recent filing with the U.S. Securities and Exchange Commission (SEC). This move is part of the company’s expanding strategy to hold Bitcoin as a key treasury asset. 

Semler Scientific joins a growing list of companies using the flagship crypto to strengthen their balance sheets. 

Semler Scientific Sold Shares To Strengthen Bitcoin Treasury 

As revealed in the SEC filing, this purchase was funded using money raised from Semler’s common stock sale. In April, Semler reached an agreement with major financial firms like Barclays Capital and Cantor Fitzgerald. 

The deal allows the company to sell up to $500 million in shares through an at-the-market (ATM) offering program. As of June 3, Semler has sold over 3.5 million shares, raking in about $136.2 million in net proceeds.

This move is not unusual; it is part of a broader trend among corporate firms building crypto reserves. Many large firms are using proceeds from convertible notes, shares, and stocks to buy more Bitcoin.

Semler Scientific Now a Top 15 Bitcoin Holder

In 2007, Semler Scientific created medical-grade tools and software to help detect and treat chronic illnesses. However, its recent moves show it is serious about adding Bitcoin to its balance sheet.

Semler now owns 4,449 BTC, valued at around $467 million. The company bought these coins at an average price of $92,158, with total costs, including fees, estimated at $410 million. 

This latest Bitcoin purchase has earned the healthcare firm a paper profit of about $57 million. It now ranks 15th among publicly traded companies holding Bitcoin, strengthening its position in the growing list of corporate crypto holders.

Semler Scientific Joins Growing Bitcoin-Treasury Firms

More than 75 companies now use Bitcoin in their financial strategies. Most recently, Trump Media, GameStop, K33, Tether, and even football club Paris Saint-Germain have joined the growing list of Bitcoin holders. 

These firms follow the lead of Strategy, led by Michael Saylor, who is often referred to as the pioneer of the corporate Bitcoin playbook. Semler is also part of this shift. Similarly, the company measures its progress with BTC Yield, which shows how its Bitcoin holdings grow per share. 

So far this year, Semler has achieved a BTC Yield of 26.7%, showing good growth for its shareholders. However, its stock dropped slightly by 0.2% in early trading on Wednesday.