Semler Scientific Increases Bitcoin (BTC) Reserve to 929 BTC With $3M Purchase

Publicly traded medical device maker Semler Scientific is doubling down on its corporate strategy focused on buying Bitcoin (BTC), with the latest transaction

Medical device maker Semler Scientific is continuing to ramp up its Bitcoin (BTC) reserves, adding another 52 BTC to its treasury in the latest round of purchases.

According to financial results for Q2 published on Aug. 5, the company made a new purchase of 52 BTC on the same day for an aggregate total of $3 million. This brings Semler Scientific’s total Bitcoin holdings to 929 BTC.

“We remain laser focused on acquiring and holding Bitcoin, while supporting and expanding our healthcare business. We continue to firmly believe that Bitcoin is a compelling investment and plan on acquiring additional Bitcoins with our cash from operations, as well as with cash generated from the sale of securities under our $150 million shelf registration statement, once effective,” Semler Scientific CEO Doug Murphy-Chutorian said in the earnings statement.

Semler Scientific’s revenues for Q2 were $14.5 million, marking a 22% decrease from the $18.6 million generated during the corresponding period of 2023, the financial results report reads. Semler shares were down 7.5% to $8.22 following the earnings report on Aug. 5, according to data from Google Finance.

The Santa Clara-based healthcare company first announced its plans to begin purchasing Bitcoin in late May, when it acquired 581 BTC for an aggregate total of $40 million. At the time, Semler Scientific chairman Eric Semler said the company’s Bitcoin treasury strategy underscores its belief that BTC is a “reliable store of value and a compelling investment.”

“We believe that Bitcoin’s unique characteristics as a scarce and finite asset with a proven track record of resilience can serve as a reasonable inflation hedge and safe haven amid global instability,” Semler added.

With the latest purchase, Semler Scientific now ranks 19th on a list of top public companies all over the world that hold Bitcoin on their balance sheet, surpassing Canadian Bitcoin mining company Bitfarms, according to data from Bitcoin Treasuries.

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