TL;DR
- Semler Scientific bought 455 BTC with $114.8 million from a stock offering and officially adopted Bitcoin as its primary treasury reserve asset.
- The healthcare firm reported a $64.7 million net loss in Q1 and carries $41.8 million in unrealized losses from previous BTC purchases.
- Natalie Brunell joined the board of directors and will lead the newly created Bitcoin Strategy Committee, overseeing future crypto-related moves.
Semler Scientific caught the market’s attention after acquiring 455 bitcoins with $114.8 million raised through a stock offering. The purchase, completed in less than ten days, brought its total holdings to 4,264 BTC, worth around $474.4 million based on current market prices. Following this move, the company officially designated BTC as its primary treasury reserve asset.
The company, which develops medical solutions, allocated the funds raised through an at-the-market (ATM) program launched in April, allowing it to sell up to $500 million in shares on the open market. So far, it has sold over 3 million shares, channeling the proceeds directly into Bitcoin. Far from a speculative bet, Semler made it clear in its SEC filing that Bitcoin now holds a central position in its financial strategy, backed by a 25.8% year-to-date yield in 2025.
This decision comes amid a complicated financial backdrop. In the first quarter of the year, the company reported a $64.7 million net loss and a 44% revenue drop compared to the same period last year. On top of that, it carries $41.8 million in unrealized losses on previous BTC positions, recorded when the cryptocurrency traded around $82,350 in March 2023.
Semler Climbs Among the Top Corporate Bitcoin Holders
To strengthen its new strategic direction, the company brought on Natalie Brunell, a well-known Bitcoin advocate, as a board member. Brunell will head the newly formed Bitcoin Strategy Committee, responsible for overseeing the company’s crypto operations and defining its next moves.
With this latest purchase, Semler now ranks 12th among companies holding the largest Bitcoin treasuries, surpassing firms like Boyaa Interactive. As part of its transparency policies, the company also launched a live dashboard displaying its BTC reserves, available to shareholders and the general public.
This announcement also coincided with ongoing negotiations with the Department of Justice, where the company reached a preliminary agreement to settle a civil case for nearly $30 million
