Semler Scientific Adds 297 BTC to Holdings, Totaling $117.8M in Bitcoin Reserves
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- A recent release states that Semler Scientific now has 1,570 BTC in Bitcoin reserves.
- The acquisition of 297 BTC for $29.1 million was made with an average price of $97,995 per BTC.
In an announcement about its Bitcoin holdings, healthcare-focused technology business Semler Scientific revealed the purchase of 297 BTC between November 18 and 22, 2024. With fees included, the average price of a Bitcoin was $97,995, and the total cost to the business was $29.1 million.
A recent release states that Semler Scientific now has 1,570 BTC in Bitcoin reserves. The aggregate cost of the company’s Bitcoin acquisitions is $117.8 million. Which translates to an average price of $75,039 per Bitcoin.
Banking on Bitcoin
Moreover, the acquisition of 297 BTC for $29.1 million was made by the corporation between November 18 and 22, 2024. With an average price of $97,995 per Bitcoin. In view of the increasing demand for digital assets as a reserve asset, this new addition further demonstrates Semler Scientific’s dedication to its Bitcoin strategy.
The healthcare IT business has already spent $3 million, or around $67,500 per Bitcoin. Increasing its holdings to 1,058 BTC earlier in November, so this isn’t their first buy this month.
Furthermore, the business was able to raise a total of $100 million under its Controlled Equity Offering agreement. With an additional $50 million obtained via its at-the-market (ATM) offering. The extra funds will be used for operating expenses and future Bitcoin acquisitions. Which will strengthen its approach to managing its treasury.
Coinciding with Semler Scientific’s plan to use stock sales to finance its Bitcoin investments, the ATM offering is in line with that approach. Since implementing this method, the company’s bitcoin holdings have grown thanks to this financial mechanism. Semler Scientific’s Bitcoin treasury approach has been successful, as seen by its BTC Yield, which has achieved 58.4 percent since its start in July 2024.
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