Semler Scientific, a healthcare technology company, continues its push into cryptocurrency, announcing a significant update to its Bitcoin holdings. With a recent purchase of 211 BTC, the company now holds 2,084 BTC, signaling its confidence in Bitcoin as a long-term asset.

Details of the Recent Purchase

Funding, costs, and strategy

Between December 5 and December 15, 2024, Semler acquired 211 Bitcoin for $21.5 million. The average purchase price, including fees, was $101,890 per Bitcoin. The company’s total Bitcoin holdings now stand at $168.6 million, with an average acquisition cost of $80,916 per BTC.

This latest investment was funded through proceeds from Semler's at-the-market (ATM) offering program and operating cash flow.

Leveraging the ATM Program

Capital raising through equity sales

Since August 2024, Semler has raised approximately $100 million through its ATM offering, facilitated by Cantor Fitzgerald & Co. The company has also filed a second prospectus supplement to its S-3 Shelf Registration, aiming to offer an additional $50 million in shares. This will increase the total amount offered under the ATM program to $150 million.

Bitcoin Yield as a Performance Indicator

Measuring cryptocurrency returns

Semler highlighted a Bitcoin yield of 92.8%, a key metric underscoring the strong performance of its cryptocurrency investments. This yield reflects the growing value and strategic importance of Bitcoin within the company’s portfolio.

Expanding Beyond Healthcare Tech

A bold diversification strategy

While Semler operates in the healthcare technology sector, its continued investment in Bitcoin demonstrates a forward-looking approach to asset diversification. The company’s Controlled Equity OfferingSM Sales Agreement has provided it with the capital flexibility needed to fund these crypto acquisitions.

A Strong Signal for Institutional Crypto Adoption

Confidence in Bitcoin’s potential

Semler joins a growing list of companies leveraging Bitcoin as a treasury asset, following examples like MicroStrategy and Tesla. With an average BTC purchase price well below its current market value, Semler’s strategy reinforces the narrative of Bitcoin as a long-term store of value.