Publicly Traded Semler Scientific Buys Millions More in Bitcoin

Medical device company Semler Scientific purchased another 165 Bitcoin for $15.7 million between the dates of April 25-29, bolstering its Bitcoin treasury to 3,467 BTC. 

The purchase marks the firm’s second major Bitcoin acquisition in the last week after it announced that it added 111 BTC for $10 million on April 25. As of Wednesday, Semler’s Bitcoin treasury is valued at more than $327 million.

“We bleed orange,” Semler Scientific Chairman Eric Semler posted on X (formerly known as Twitter), just days after telling shareholders they could “stop or sell if you don’t like what we’ve done with Bitcoin.” 

Semler’s plans with the top cryptocurrency don’t appear to be ending anytime soon. The firm recently filed to raise up to $500 million through a new securities offering, with plans to use a portion of the funds to purchase Bitcoin. 

The firm has been aggressively purchasing Bitcoin since last year, following the playbook created by Strategy (formerly MicroStrategy) and its Chairman and major Bitcoin proponent, Michael Saylor. He chimed in on Semler’s most recent purchase to compliment the firm’s “impressive” BTC yield of 23.8% year-to-date. 

BTC yield, a metric popularized by Saylor and Strategy, refers to the ratio of a company’s Bitcoin holdings and its assumed shares outstanding. For comparison, Strategy, the largest publicly traded holder of Bitcoin with more than 2.5% of the total supply, only has a 13.7% BTC yield year-to-date. 

The two most recent Semler purchases follow other major purchases from the publicly traded med-tech company, including one for $88.5 million worth in February.

At 3,467 BTC, the company’s Bitcoin treasury sits just outside the top 10 ranking among publicly traded companies. 

Shares of Semler Scientific, which trades on the Nasdaq as SMLR, were down 4.83% today. The price of the company’s shares have dropped by more than 40% year-to-date and trade at $32.33 as of market close.

Edited by Andrew Hayward