Semler Scientific Is Going All-In on Bitcoin With a $500M Securities Offering and a New Loan Agreement With Coinbase

Public medial device maker Semler Scientific has filed a registration statement with the U.S. Securities and Exchange Commission to offer up to $500 million in securities

Semler Scientific (NASDAQ:SCXI) is ramping up its bitcoin strategy with a $500 million securities offering and a new loan agreement with Coinbase.

The medical device maker has filed a registration statement with the U.S. Securities and Exchange Commission to offer up to $500 million in securities.

In the S-3 filing on Thursday, the Nasdaq-listed firm said it may sell common stock, preferred stock, debt securities, warrants and units over time. The net proceeds will be used “primarily for general corporate purposes, including the acquisition of Bitcoin,” according to the filing.

The company also doubled down on its crypto strategy, saying it views Bitcoin holdings “as long term holdings and expect to continue to accumulate Bitcoin.” Semler Scientific noted that it hasn’t set “any specific target for the amount of Bitcoin we seek to hold, and we will continue to monitor market conditions in determining whether to engage in additional Bitcoin purchases.”

Semler started buying bitcoin in May 2024 and now holds 3,192 BTC worth about $315 million, according to data from Bitcoin Treasuries.

Semler also disclosed a master loan agreement with Coinbase (NASDAQ:COIN), which would allow it to borrow using bitcoin as collateral. In a separate filing, Semler said it reached an agreement-in-principle with the Department of Justice to pay $29.75 million to settle claims tied to the False Claims Act.