Semler Scientific Continues Strategic Bitcoin Investment, Increasing Stake to 1,058 BTC

Medical diagnostics firm Semler Scientific has acquired an extra 47 BTC for $3 million utilizing working money circulate since its earlier disclosure in August. Alongside its third-quarter outcomes, the corporate revealed that its bitcoin holdings have reached 1,058.

This stash is price round $80 million in complete purchases as of November eighth on account of latest worth appreciation.

“Laser Centered” on Bitcoin

Semler Scientific posted $13.5 million in income for Q3, a 17% lower. Working earnings was $5.1 million, down $1.2 million from Q2. Regardless of this, it stays “laser-focused” on buying and holding Bitcoin.

Based on Semler Scientific’s chairman, Eric Semler, the corporate is seizing a possibility to spice up worth for stakeholders by increasing its bitcoin reserves. Transferring ahead, Semler goals to proceed shopping for bitcoin with each operational money and funds from the at-the-market (ATM) gross sales program whereas additionally exploring different financing strategies to increase these acquisitions.

Weighing on the corporate’s BTC focus, Doug Murphy-Chutorian, MD, chief government officer of Semler Scientific, commented,

“We’re happy to report robust efficiency from our healthcare enterprise with earnings from operations of $5.1 million within the third quarter. We stay laser-focused on buying and holding bitcoin, whereas supporting innovation and development in our healthcare enterprise.”

With these acquisitions, Semler grew to become the Seventeenth-largest public firm holding the cryptocurrency, inserting it forward of Japan’s Metaplanet, which at present owns 1,015.2 BTC, as per data compiled by Bitcoin Treasuries.

Company Bitcoin Development Accelerates:

Over the previous few years, a rising pattern has seen corporations investing in bitcoin as a strategic asset on their steadiness sheets. MicroStrategy, underneath the management of former CEO Michael Saylor, is continuously credited with beginning this pattern amongst public companies.

In 2020, Saylor introduced the corporate’s large-scale bitcoin funding, citing it as a more practical retailer of worth than money. MicroStrategy’s holdings now complete 252,220 BTC, rating it among the many high company bitcoin holders.

A number of corporations have adopted its footsteps, together with Semlar which first announced that it adopted BTC as its main treasury reserve asset in Might this yr, citing bitcoin’s shortage, fastened provide, and potential as an inflation hedge and protected haven amid international uncertainties.

The California-based med-tech firm started this technique with an preliminary buy of 581 bitcoins for $40 million, together with taxes and bills, and confirmed it has no plans to purchase different cryptocurrencies.