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January 12, 2025

Semler Scientific Acquires 303 Bitcoins for $29.3 Million

Semler Scientific, Inc. has released an update on its Bitcoin (BTC) holdings, capital markets activity, and BTC yield, providing specific figures for its recent activities. Between November 25, 2024, and December 4, 2024, the company acquired 303 Bitcoins for $29.3 million, bringing its total holdings to 1,873 Bitcoins, acquired for an aggregate $147.1 million at an average purchase price of $78,553 per Bitcoin.

The company also reported its capital markets activity, noting that it filed a prospectus supplement to its S-3 shelf to offer an additional $50.0 million of shares under its existing ATM offering with Cantor Fitzgerald & Co., and as of December 4, 2024, Semler Scientific has generated approximately $79.8 million of gross proceeds from sales under the ATM offering.

The BTC yield, a key performance indicator, was reported to be 54.7% from October 1, 2024, to December 4, 2024, and 78.7% from July 1, 2024, to December 4, 2024. This metric represents the percentage change period-to-period of the ratio between Semler Scientific’s Bitcoin holdings and its assumed diluted shares outstanding. The company uses BTC yield as a KPI to assess the performance of its strategy of acquiring Bitcoin and believes this metric can be used to supplement an investor’s understanding of its decision to fund the purchase of Bitcoin by issuing additional shares of its common stock.

Additionally, Semler Scientific provided specific figures for its total Bitcoin holdings and assumed diluted shares outstanding as of June 30, 2024, September 30, 2024, and December 4, 2024, showing an increase in both Bitcoin holdings and assumed diluted shares outstanding over the periods.

Following these announcements, the company's shares moved -5.0%, and are now trading at a price of $60.2. For the full picture, make sure to review Semler Scientific's 8-K report.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.

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