TL;DR
- Semler Scientific has expanded its Bitcoin holdings by acquiring an additional 215 Bitcoins for $17.7 million, bringing its total to 1,273 BTC, with an average purchase price of $69,682 per Bitcoin.
- Since adopting its Bitcoin treasury strategy in Q2 2024, Semler Scientific has achieved a 37.3% Bitcoin yield, a key performance indicator for its acquisition strategy.
- The company’s Bitcoin investment has positively impacted its stock price, which surged by 10.36% following the latest acquisition, reflecting investor confidence in its strategic direction.
Semler Scientific, a leading healthcare technology company, has announced a substantial expansion of its Bitcoin holdings. Between November 6 and November 15, 2024, the company acquired an additional 215 Bitcoins for $17.7 million, at an average price of $82,502 per Bitcoin, including fees and expenses.
This latest purchase brings Semler Scientific’s total Bitcoin holdings to 1,273 BTC, acquired at an aggregate purchase price of $88.7 million and an average purchase price of $69,682 per Bitcoin.
Impressive Bitcoin Yield
Since adopting its Bitcoin treasury strategy in the second quarter of 2024, Semler Scientific has achieved a remarkable Bitcoin yield of 37.3%. This yield is a key performance indicator (KPI) that the company uses to assess the success of its Bitcoin acquisition strategy.
From October 1 to November 15, 2024, the company’s Bitcoin yield was 18.9%. Eric Semler, chairman of Semler Scientific, stated, “We believe this demonstrates substantial Bitcoin accretion for our stakeholders“.
Impact on Stock Price
The company’s bold Bitcoin investment approach has positively impacted its stock price. Following the announcement of the latest Bitcoin acquisition, Semler Scientific’s stock surged by 10.36%, reaching $49.09 on the NASDAQ. Investors have responded favorably to the company’s exposure to Bitcoin, reflecting growing confidence in its strategic direction.
ATM Activity and Capital Markets
In addition to its Bitcoin activity, Semler Scientific has been active in the capital markets. The company raised $21.5 million through an at-the-market (ATM) offering, selling 505,544 shares under a sales agreement with Cantor Fitzgerald & Co. This capital raise is part of the company’s broader strategy to fund its Bitcoin purchases and other growth initiatives.
Future Prospects
Semler Scientific’s decision to expand its Bitcoin holdings comes at a time when the cryptocurrency is experiencing record highs. Bitcoin recently traded at over $93,000, driven by speculation about favorable regulatory changes under the Trump administration. The company’s strategic investments in Bitcoin and its proactive approach to capital markets position it well for future growth and profitability.
