Semler Scientific Updates Investors on Its Bitcoin Holdings, Now Worth $114 Million

Between Nov. 6 and Nov. 15, Semler acquired 215 Bitcoin for $17.7 million, averaging $82,502 per Bitcoin.

Medical equipment company Semler Scientific (NYSE:SMSI) has disclosed an additional purchase of 215 Bitcoin (CRYPTO: BTC) for an aggregate cost of $17.7 million. The company now holds 1,273 Bitcoins, with total cost of acquisition at $88.7 million and an average price of $69,682 per Bitcoin, as revealed in a press release on Monday.

Semler’s Bitcoin Holdings Now Worth $114 Million

The company’s last disclosed Bitcoin holdings were 1,058 Bitcoins, as of Nov. 6. With the latest purchase, Semler’s Bitcoin holdings now stand at 1,273 Bitcoins. At current market price, the holdings are valued at approximately $114 million.

Semler, which began deploying excess cash into Bitcoin in May, highlighted the digital asset’s potential as an inflation hedge and store of value. The company’s first Bitcoin purchase led to a 25% increase in its stock price at the time.

Semler Raises $21.5 Million In At-The-Market Offering

Semler also announced that it raised $21.5 million from an at-the-market offering, wherein the company sold 505,544 shares under its Controlled Equity Offering agreement with Cantor Fitzgerald. The proceeds from the offering will be used to support its Bitcoin purchases and other operational needs.

The company tracks the success of its Bitcoin strategy with a metric it calls BTC Yield. BTC Yield measures changes in the ratio of the company’s Bitcoin holdings to its diluted shares outstanding, as of a specific date.

According to the release, from Oct. 1 to Nov. 15, its BTC Yield was 18.9%, and from July 1 to November 15, 2024, it reached 37.3%. The company noted that BTC Yield is not a traditional financial measure and should be viewed as one factor in assessing its Bitcoin treasury strategy.