Semler Scientific (NASDAQ: SMLR) just doubled down on Bitcoin in a bold move that’s catching the eye of both Wall Street and the crypto crowd. While most healthcare tech firms are playing it safe, what with the global turmoil, Semler is building up it’s Bitcoin vault – leveraging a fresh $114.8 million from a stock offering to buy up 455 BTC in less than 10 days.
That brings the company’s total stash to a staggering 4,264 Bitcoin, worth $474.4 million as of May 22.
This is a full throttle strategy.
Between May 13 and May 22, Semler bought 455 BTC at an average price of $109,801 per coin. The purchase was funded using proceeds from an April 15 at-the-market (ATM) stock program that allows the company to sell up to $500 million in shares.
So far, it’s sold more than 3 million shares, raising over $114.8 million. And it’s putting that capital straight into Bitcoin.
Was this a knee-jerk move to jump on a trend? Absolutely not.
In its SEC filing, the company made it clear: Bitcoin is now a core part of its financial strategy. It’s even tracking the “Bitcoin Yield” – which it says stands at 25.8% year-to-date.
Semler’s Bitcoin buying spree comes as the company struggles on the financial front. It posted a $64.7 million net loss in Q1 2025, and revenue fell 44% compared to last year. Makes you think – are they really in the best position right now?
Plus, as of March 2023, the firm reported $41.8 million in paper losses on its Bitcoin holdings, with BTC trading at around $82,350 at the time.
Still, the company is committed.
That strategy is now getting more structure, too – with Natalie Brunell, a well-known Bitcoin advocate, joining the board and leading the new Bitcoin Strategy Committee. This is all in if I ever saw it.
More Challenges Ahead?
There’s legal noise in the background. Semler has reached a preliminary agreement to pay nearly $30 million in a civil settlement related to a Department of Justice investigation. The company hasn’t shared details, but it adds pressure at an already risky moment.
With this latest purchase, Semler becomes the 12th-largest public holder of Bitcoin, surpassing names like Boyaa Interactive. The company even launched a live Bitcoin dashboard to display its holdings – part of its strategy to stay transparent with investors and aligned with public reporting rules.
Semler is betting that Bitcoin is the right long-term move. It’s a high-risk, high-reward play that few in traditional healthcare would dare to make.
Let’s see if it pays off.
Satoshi Nakamoto, Bitcoin’s anonymous creator, is estimated to hold around 1 million BTC, making them the largest individual holder.
MicroStrategy is the largest public company holder of Bitcoin, with significant holdings also by Marathon Digital, Galaxy Digital, and Tesla.
The United States is the largest known state holder of Bitcoin, followed by China and the United Kingdom, often from seized assets.
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