Semler Scientific, a Nasdaq-listed health technology firm, increased its Bitcoin holdings by purchasing an additional 47 BTC for $3 million, bringing its total holdings to 1,058 BTC.
Healthcare Firm Semler Scientific Increases Bitcoin Holdings to 1,058 BTC with Latest $3 Million Purchase
The company announced the acquisition alongside its third-quarter earnings results, emphasizing its commitment to Bitcoin as a core treasury asset.
CEO Doug Murphy-Chutorian reiterated Semler’s strategy of both accumulating Bitcoin and encouraging innovation in the healthcare business.
“We continue to focus on acquiring and holding Bitcoin while supporting growth in our healthcare sector,” Murphy-Chutorian said. The company has been consistently adding to its Bitcoin reserves, with 141 BTC purchased for $8.4 million in the third quarter alone.
Semler’s approach mirrors that of software giant MicroStrategy, the largest public institutional Bitcoin holder, as Semler leverages Bitcoin to maximize stakeholder value.
According to Chairman Eric Semler, the firm plans to continue its Bitcoin purchases with operating cash flow and sales proceeds from its at-the-market (ATM) program, which went into effect on August 13 and allows for the sale of up to $50 million in stock.
As of Sept. 30, Semler has raised $2.5 million through the sale of 86,734 shares under this program.
The company's Q3 financials showed a slight increase in net income to $5.6 million on revenue of $13.5 million, representing a 17% decrease from the prior year.
Following the announcement, Semler's shares rose 3.4% in after-hours trading, despite falling 2.3% during regular trading hours.
*This is not investment advice.