Healthcare technology firm Semler Scientific has announced a plan to raise $75 million through a private offering of convertible senior notes maturing in 2030. The funds will back various corporate activities, including a significant increase in Bitcoin reserves.
Boosting Bitcoin Resources
The announcement follows Semler’s impressive fourth-quarter 2024 earnings report, revealing a $28.9 million unrealized gain from Bitcoin holdings. On January 13, the firm acquired an additional 237 BTC, raising its total to 2,321 BTC, worth approximately $241 million at the current Bitcoin trading price of $105,000.
Bitcoin's Role in Corporate Growth
Semler’s Bitcoin strategy reflects a growing trend among public companies leveraging the cryptocurrency as a treasury asset. Bitcoin recently reached a record high of $109,000, driven by market optimism ahead of Donald Trump’s inauguration on January 20. Preliminary financial results for Q4 2024 project revenue between $12.1 million and $12.5 million, with operating income between $3.4 million and $3.7 million.
Semler Joins Bitcoin Heavyweights
Semler’s current Bitcoin holdings rank 13th among public companies. MicroStrategy remains the leader with 461,000 BTC worth $48 billion. Despite positive developments, Semler's stock (SMLR) saw a 1.55% decline on January 23, with an additional 12% drop in after-hours trading, closing at $53.75.
Semler Scientific continues to bet on cryptocurrency as a key component of its corporate strategy. The company aims to compete with leaders in the field of digital assets and technology.
