Semler Scientific buys 215 more Bitcoin, raises $21.5m in equity offering

Semler Scientific, a healthcare-focused medical equipment company, informed investors about its Bitcoin holdings. He currently owns $114 million worth of Bitcoin.

Semler purchased 215 Bitcoins for $17.7 million between November 6 and November 15; This averaged $82,502 per Bitcoin. According to a press release, the company currently owns 1,273 Bitcoins purchased at a total cost of $88.7 million, with an average price of $69,682 per Bitcoin.

As of this writing, Bitcoin (BTC) is trading at $90,400.

In May, Semler announced that he made his first purchase under the new reserve strategy, purchasing 581 BTC for $40 million. This acquisition caused the stock price to increase by 25% in that period. The company has highlighted Bitcoin’s potential as an inflation hedge and safe haven, citing its unique scarcity and durability.

ATM offer

The company also announced that it raised $21.5 million through an offering by selling 505,544 shares under a Controlled Stock Offering agreement with Cantor Fitzgerald. This fund supports Bitcoin purchases and other operational needs.

Semler tracks the success of his Bitcoin strategy with a metric called BTC Yield. According to the statement, BTC Yield measures changes in the ratio of the company’s Bitcoin assets to diluted shares.

From October 1 to November 15, 2024, BTC Return was 18.9% and from July 1 to November 15, 2024 it reached 37.3%.

The company cautioned that BTC Yield is not a traditional financial metric and should be viewed as a factor in evaluating a Bitcoin treasury strategy.