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Semler Scientific stock rises after new bitcoin buy

Published 04/02/2025, 18:32
© Reuters.
SMLR
-1.88%
Bitcoin US Dollar
0.91%

Tuesday saw Semler Scientific (NASDAQ:SMLR), a Nasdaq-listed healthcare technology company, reveal the acquisition of an additional 871 bitcoins for about $88.5 million, at an average price of $101,616 per coin, as per a recent 8-K filing with the U.S. Securities and Exchange Commission. The purchase occurred between January 11 and February 3.

The company’s latest bitcoin investment was funded through the proceeds from its January 2025 senior convertible notes offering and the partial sale of its minority stake in Monarch Medical (TASE:PMCN) Technologies. As of February 3, Semler’s bitcoin holdings total 3,192 BTC, valued at approximately $320 million, with an average purchase price of $87,854 per bitcoin. This includes a total expenditure of around $280.4 million, accounting for fees and expenses. Prior to this, Semler had bought 237 bitcoins for $23.3 million from December 16, 2024, to January 10.

Semler Scientific’s Chair Eric Semler expressed enthusiasm about the company’s growing bitcoin reserves. "We are thrilled with the progress we are making in growing our bitcoin stockpile," he commented. He also noted the success of the convertible notes offering and the strategic monetization of the investment in Monarch Medical that enabled the additional bitcoin purchase.

In response to the news, Semler Scientific’s shares experienced a 1.6% increase in early trading on Tuesday, as indicated by data from TradingView.

In related news, on Monday, MicroStrategy, a company known for its corporate bitcoin treasury strategy, concluded its latest run of weekly bitcoin purchases. The streak lasted for 12 consecutive weeks without acquiring any new bitcoins between January 27 and February 2. MicroStrategy’s total bitcoin holdings remain at 471,107 BTC, with an aggregate value exceeding $47 billion, purchased at an average price of $64,511 per bitcoin, amounting to a total cost of about $30.4 billion.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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