Semler Scientific Acquires Bitcoin Worth Over $20 Million, Total Holdings Cross 5,000 BTC

Semler Scientific (SMLR) announced on Thursday that it has acquired 175 Bitcoin (BTC) for $20.8 million, utilizing proceeds from its ATM offering.

Semler’s stock edged 0.46% higher in pre-market trade. However, retail sentiment around the shares on Stocktwits dipped lower within ‘bearish’ territory as compared to a day ago. 

According to a filing with the Securities and Exchange Commission (SEC), the average purchase price of its newly acquired 175 BTC was $119,230 per Bitcoin. The latest haul brings the company’s total Bitcoin holdings to 5,021 BTC, acquired at a total cost of $475.8 million and valued at around $595 million as per Bitcoin’s price early Thursday morning.

The apex cryptocurrency was trending 0.3% higher in pre-market hours at around $118,500. On Tuesday, Bitcoin hit a new record high, crossing $120,000. It is currently trading 3.5% below that level, according to CoinGecko data.

Semler Scientific also updated investors on its BTC Yield key performance indicator (KPI), reporting a 31.3% year-to-date return through July 23. 

The healthcare technology company pivoted to adopting Bitcoin as its primary treasury reserve asset in May 2024. It plans to expand its Bitcoin holdings to 10,000 by the end of the year – more than double its current holdings. It aims to reach 42,000 BTC by the end of 2026 and 105,000 by the end of 2027.

Semler has said it intends to use a mix of equity, debt, and operational cash flow for its Bitcoin accumulation plan. 

Semler’s stock has fallen more than 28% this year so far, but gained 15% over the past 12 months. Meanwhile, Bitcoin’s price has gained 26% this year and nearly 80% over the past 12 months. 

Read also: Bitcoin Flat While Ethereum, XRP Lead $950 Million Crypto Liquidation Wave

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