Semler Scientific Continues Strategic Bitcoin Investment, Increasing Stake to 1,058 BTC

Semler Scientific, a medical diagnostics firm, has expanded its Bitcoin holdings by acquiring an additional 47 BTC for $3 million, bringing its total to 1,058 BTC. This increase was disclosed alongside the company's third-quarter financial results, revealing that the total value of its Bitcoin investments is approximately $80 million as of November 8, 2024, due to recent price gains.

Commitment to Bitcoin Investment

In Q3, Semler reported $13.5 million in revenue, marking a 17% decline compared to the previous quarter. Operating income was $5.1 million, down $1.2 million from Q2. Despite these challenges, the company remains "laser-focused" on acquiring and holding Bitcoin.

Chairman Eric Semler emphasized the strategic importance of increasing Bitcoin reserves to enhance stakeholder value. The company plans to continue purchasing Bitcoin using operational cash and funds from its at-the-market (ATM) sales program, while also considering alternative financing methods.

CEO Doug Murphy-Chutorian highlighted the strong performance of the healthcare business, stating:

“We are pleased to report strong performance from our healthcare business with income from operations of $5.1 million in the third quarter. We remain laser-focused on acquiring and holding bitcoin, while supporting innovation and growth in our healthcare business.”

With this latest acquisition, Semler Scientific has become the 17th-largest public company holding Bitcoin, surpassing Japan's Metaplanet, which holds 1,015.2 BTC, according to data from Bitcoin Treasuries.

Growing Corporate Bitcoin Interest

The trend of companies investing in Bitcoin as a strategic asset has gained momentum in recent years. MicroStrategy, led by former CEO Michael Saylor, is often credited with initiating this movement among public corporations. Since announcing its extensive Bitcoin investment in 2020, MicroStrategy's holdings have ballooned to 252,220 BTC.

Semler first adopted Bitcoin as its primary treasury reserve asset in May 2024, citing its scarcity and potential as a hedge against inflation. The California-based company began this journey with an initial purchase of 581 BTC for $40 million, confirming that it has no intentions of investing in other cryptocurrencies.