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Semler Scientific Added 47 Bitcoin to Holdings, Bringing Stack to 1,058 BTC
To this point, Semler is at about breakeven on its bitcoin investment.
Updated Nov 5, 2024, 1:02 p.m. Published Nov 4, 2024, 9:20 p.m.
Medical device company Semler Scientific (SMLR) disclosed modest additional bitcoin purchases alongside its third quarter earnings results Monday evening.
The firm as of Nov. 4 holds 1,058 bitcoin, having purchased 47 BTC for $3 million since its most previous acquisition disclosure in late August. In total, Semler has spent $71 million on its bitcoin buys and those 1,058 tokens are worth roughly $71.4 million at bitcoin's current price of $67,500.
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"We are capitalizing on the opportunity to maximize stakeholder value by accumulating bitcoin," said Eric Semler, chairman of Semler Scientific. "We plan to continue to purchase bitcoin with cash from operations and with cash proceeds from our sales under our ATM program. In addition, we are exploring additional financing opportunities that will enable us to acquire even more bitcoin."
The company's $50 million at-the-market stock sale program became effective on Aug. 13 and since then Semler has sold 86,734 shares, raising about $2.5 million.
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