Medical diagnostics company Semler Scientific has acquired an additional 47 BTC for $3 million using operating cash flow since its previous disclosure in August.
Medical diagnostics company Semler Scientific (NYSEAMERICAN:SMLR) has continued to increase its bitcoin (BTC) stake, revealing in its Q3 earnings report that it now holds 1,058 BTC, up from the 581 BTC it disclosed in August.
The company, which is focused on acquiring and holding bitcoin, noted that these acquisitions were made with operating cash flow at an average price of $75,600 per coin, totaling roughly $80 million in purchases.
“Laser Focused” on Bitcoin
Semler Scientific, which posted $13.5 million in revenue for Q3, also highlighted its operating income, which was $5.1 million, down $1.2 million from Q2. Despite this, the company remains “laser-focused” on bitcoin.
According to Semler Scientific’s chairman, Eric Semler, the company is seizing an opportunity to boost value for stakeholders by expanding its bitcoin reserves. Moving forward, Semler aims to continue buying bitcoin with both operational cash and funds from the at-the-market (ATM) sales program while also exploring other financing methods to expand these acquisitions.
Weighing on the company’s BTC focus, Doug Murphy-Chutorian, MD, chief executive officer of Semler Scientific, commented,
“We are pleased to report strong performance from our healthcare business with income from operations of $5.1 million in the third quarter. We remain laser-focused on acquiring and holding bitcoin, while supporting innovation and growth in our healthcare business.”
With these acquisitions, Semler has become the 17th-largest public company holding the cryptocurrency, placing it ahead of Japan’s Metaplanet, which currently owns 1,015.2 BTC, as per data compiled by Bitcoin Treasuries.
Corporate Bitcoin Trend Accelerates
Over the past few years, a rising trend has seen companies investing in bitcoin as a strategic asset on their balance sheets. MicroStrategy, under the leadership of former CEO Michael Saylor, is frequently credited with starting this trend among public corporations.
In 2020, Saylor announced the company’s large-scale bitcoin investment, citing it as a more effective store of value than cash. MicroStrategy’s holdings now total 252,220 BTC, ranking it among the top corporate bitcoin holders.
Several companies have followed in its footsteps, including Semlar which first announced that it adopted BTC as its primary treasury reserve asset in May this year, citing bitcoin’s scarcity, fixed supply, and potential as an inflation hedge and safe haven amid global uncertainties.
The California-based med-tech company began this strategy with an initial purchase of 581 bitcoins for $40 million, including taxes and expenses, and confirmed it has no plans to buy other cryptocurrencies.
The above is the detailed content of Semler Scientific Continues Strategic Bitcoin Investment, Increasing Stake to 1,058 BTC. For more information, please follow other related articles on the PHP Chinese website!

Michael Saylor popular Bitcoin activist and co-founder of MicroStrategy, a business intelligence firm has dropped his latest prediction for Bitcoin price in the ongoing Bitcoin 2024 conference in Nashville.

One of the most important points of focus in the US Presidential race has been the policy of both parties regarding Bitcoin and cryptocurrencies.

Shiba Inu price could potentially reach unprecedented heights if SHIB follows Bitcoin should the premier crypto asset hit $2.9 million as predicted by VanEck.

Many of the nation's leading cryptocurrency companies, executives, investors and fanatics are beginning to unite around former president Donald Trump's bid for the White House

Following CNF's earlier update that Ferrari is accepting Bitcoin, Ripple (XRP), and other cryptocurrencies as payment for its cars, it is now reported that Ferrari will expand its cryptocurrency payment option to European dealers by the end o

With the American President Joe Biden deciding not to run for re-election, Vice President Kamala Harris is now a top contender for the presidential race. Recently, she spoke about Bitcoin and cryptocurrencies, making her stance clear.

Former White House Communications Director Anthony Scaramucci weighed in on the possible impact on Bitcoin (BTC) prices if former President Donald Trump wins his second term in the upcoming elections.

Jan van Eck, the CEO of the investment management company VanEck, highlighted some of Bitcoin's most notable merits during the ongoing BTC Conference in the States.

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

Dreamweaver Mac version
Visual web development tools

Safe Exam Browser
Safe Exam Browser is a secure browser environment for taking online exams securely. This software turns any computer into a secure workstation. It controls access to any utility and prevents students from using unauthorized resources.

Zend Studio 13.0.1
Powerful PHP integrated development environment

SAP NetWeaver Server Adapter for Eclipse
Integrate Eclipse with SAP NetWeaver application server.

SublimeText3 English version
Recommended: Win version, supports code prompts!
