Key Takeaways:
- Semler Scientific has invested $71 million in Bitcoin, now holding 1,058 BTC, making it the 17th-largest Bitcoin holder among public companies.
- The company’s BTC holdings, valued at around $72 million, were partly funded by operational cash and sales under its ATM program, with future expansion plans.
- Following the announcement, Semler’s stock rose 3.44% after-hours, despite mixed financial results for Q3, including a 17% revenue decline and a slight net income increase.
Semler Scientific, a medical device company, has expanded its Bitcoin holdings with a $71 million investment, acquiring a total of 1,058 BTC.
Over the third quarter and early November, Semler added 181 Bitcoin, spending an additional $2.6 million beyond Q3.
JUST IN: 🇺🇸 Public company Semler Scientific purchases additional 47 #bitcoin for $3 million. pic.twitter.com/bsUgupq5nJ
— Bitcoin Magazine (@BitcoinMagazine) November 4, 2024
CEO Doug Murphy-Chutorian emphasized the company’s dedication to Bitcoin, aiming to grow its value while advancing its healthcare business.
Semler’s holdings, now valued near $72 million, make it the 17th-largest Bitcoin holder among publicly traded firms, surpassing Metaplanet.
Chairman Eric Semler noted plans to fund further acquisitions with operational cash and their ATM program.
Following this announcement, Semler’s stock rose 3.44% in after-hours trading, despite a 32.2% year-to-date decline.
Financially, Semler reported a 17% year-over-year revenue drop to $13.5 million in Q3, though net income rose 2% to $5.6 million.
The company remains focused on maximizing stakeholder value by building its Bitcoin portfolio alongside its core healthcare operations.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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