NewsletterSemler Scientific Acquires Additional Bitcoin, Now Holds 1,570 BTC
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.
$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.
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.
Nevertheless, MicroStrategy has been one of the most active public companies in accumulating Bitcoin. Recently, MicroStrategy announced that it had purchased an additional 55,500 BTC for $5.4 billion at an average cost of $97,862 per coin.
The Bitcoin strategy of Semler Scientific can be explained by the growing tendency of public corporations worldwide to add digital assets to their portfolios. Due to such attention, Bitcoin continues to set itself as a relevant asset for corporate treasuries.
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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