Semler Scientific CEO Eric Semler announced on April 30 via X that the company has acquired an additional 165 Bitcoins for $15.7 million.
The latest purchase brings the company’s total Bitcoin (BTC) holdings to 3,467 BTC, now valued at $330.6 million.
The acquisition was funded through proceeds from Semler’s ongoing $500 million at-the-market (ATM) equity offering. Between April 25 and April 29, the company sold 559,000 shares, raising approximately $19.5 million.
The average purchase price of a new Bitcoin was $94,931 per coin, while the company’s overall average cost basis is $88,263 per BTC.
Semler’s Bitcoin reserve strategy
Semler Scientific began accumulating Bitcoin in May 2024, declaring it their primary treasury reserve asset. Initial purchases included 581 BTC in May, 247 BTC in July, and 247 more in August.
By October, the firm had ramped up its pace significantly, buying 581 BTC in one week and ultimately ending 2024 with over 3,000 coins. Since then, it has continued to use equity issuance to build its Bitcoin position.
The company reported a year-to-date BTC yield of 23.8%, highlighting the performance of its cryptocurrency holdings compared to traditional fiat reserves.
CEO Eric Semler has repeatedly framed Bitcoin as a hedge against inflation and a store of value superior to cash.
