Semler Scientific Acquires Additional Bitcoin, Now Holds 1,570 BTC

Ronny Mugendi
November 26, 2024
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Highlights

  • Semler Scientific now holds 1,570 BTC, acquired at a cumulative cost of $117.8M, with an average price of $75,039 per BTC.
  • The company raised $100M through ATM equity sales, funding Bitcoin purchases and operational needs under its treasury strategy.
  • Semler Scientific achieved a 58.4% BTC yield since July 2024, reflecting significant returns on its Bitcoin treasury investments.

Semler Scientific, a healthcare-focused technology company, announced an update on its Bitcoin holdings, revealing the acquisition of an additional 297 BTC between November 18 and November 22, 2024. The company spent $29.1 million on these purchases, with an average price of $97,995 per Bitcoin, including associated fees.

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$29.1M Bitcoin Buy Pushes Semler Scientific’s Holdings Past 1,500 BTC

According to a recent announcement, Semler Scientific has increased its Bitcoin reserves to a total of 1,570 BTC. The company’s Bitcoin purchases, made at a cumulative cost of $117.8 million, reflect an average price of $75,039 per Bitcoin.

Between November 18 and November 22, 2024, the company acquired 297 BTC for $29.1 million, paying an average price of $97,995 per Bitcoin. This latest addition highlights Semler Scientific’s commitment to its Bitcoin strategy, aiming to strengthen its balance sheet amid growing interest in digital assets as an alternative reserve.

This latest purchase is not the first this month, as the healthcare technology startup increased its Bitcoin holdings to 1,058 BTC earlier in November, investing $3 million at an average price of $67,500 per BTC.

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ATM Offering Secures $50M to Fund Bitcoin Strategy

In addition, the startup raised $50 million through its at-the-market (ATM) offering, increasing the total amount raised to $100 million under its Controlled Equity Offering agreement. The additional capital is allocated to operational needs and future Bitcoin purchases, reinforcing its treasury management approach.

The ATM offering aligns with Semler Scientific’s strategy to fund its Bitcoin investments through equity sales. This financial mechanism has allowed the company to increase its cryptocurrency holdings since adopting the strategy.

Moreover, Semler Scientific’s BTC Yield, a key performance indicator, highlights the effectiveness of its Bitcoin treasury strategy, achieving 58.4% since its inception in July 2024. This metric underscores the company’s ability to generate substantial returns on its Bitcoin investments.

Meanwhile, Bitcoin price has maintained its bullish rally, trading at $94,837.24 with a 5.27% gain over the past seven days as BTC whales buy the dip. The market cap now stands at $1.88 trillion, with 24-hour trading volume surging by 42% to $69.13 billion.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.