Semler Scientific Tops 4,000 Bitcoin in Treasury as Crypto Strategy Gains Momentum

Semler Scientific, a healthcare technology firm listed on the Nasdaq, has made another bold move into Bitcoin, adding 455 BTC to its balance sheet between May 13 and May 22. The latest purchase, worth $50 million, pushes the company’s total Bitcoin holdings to 4,264 BTC—marking a significant step in its year-old digital asset strategy.

According to a new SEC 8-K filing, the coins were acquired at an average price of $109,801 each, using proceeds from Semler's $500 million at-the-market equity offering program. The total cost basis for the company’s Bitcoin stash now stands at $390 million, with an average purchase price of $91,471 per BTC. As of May 22, the market value of those holdings had climbed to $474.4 million, reflecting a 25.8% yield year-to-date.

Semler began incorporating Bitcoin into its treasury reserves in May 2024, following a path laid out by firms like MicroStrategy that treat BTC as a long-term strategic asset. The company now views Bitcoin yield as a key performance metric alongside its core business metrics.

While its Bitcoin portfolio is in the green, Semler’s stock didn’t follow suit on Friday. Shares of SMLR were down 6.7% to $41.89 at the time of publication, bringing its market capitalization to around $498 million. The price drop suggests investors may still be weighing the implications of balancing healthcare innovation with a bold bet on digital assets.

Semler’s core business remains focused on developing and marketing technologies for early detection and treatment of chronic diseases. However, its foray into crypto signals a growing trend among non-financial firms seeking to diversify treasury strategies in response to inflation concerns and evolving financial norms.