Key Takeaways
- Semler Scientific increased its bitcoin holdings to 1,058 BTC.
- Recent 47 BTC purchase valued at $3 million brings holdings' worth to $71.4 million.
- Semler plans further bitcoin purchases using operating cash and financing.
Medical device company Semler Scientific (SMLR) disclosed a new bitcoin purchase alongside its third-quarter earnings, revealing that the company now holds a total of 1,058 BTC.
This quarter, Semler acquired 47 BTC for $3 million, adding to its previous bitcoin investments.
Total holdings
As of November 4, Semler’s total bitcoin spending amounts to $71 million, nearly breakeven with the current valuation of its 1,058 BTC at approximately $67,500 per bitcoin, or $71.4 million overall.
The company initially entered the bitcoin market to boost stakeholder value, according to Eric Semler, chairman of Semler Scientific.
Funding
Semler has indicated it will continue to buy bitcoin using cash from operations, funds from an at-the-market (ATM) stock sale program, and other potential financing.
Since the ATM program’s launch in mid-August, the company has raised $2.5 million through the sale of 86,734 shares, supporting its bitcoin acquisition strategy.
