Originally published on: November 05, 2024
Semler Scientific is not slowing down in its quest to accumulate Bitcoin, with the latest data from the third quarter showing an additional $2.6 million worth of Bitcoin added to its holdings. The company’s CEO, Doug Murphy-Chutorian, emphasized their commitment to acquiring and holding Bitcoin while also nurturing innovation and growth in their healthcare business.
As of November 4th, Semler held 1,058 Bitcoin valued at $74,951 each, totaling an investment of $71 million. The company purchased 141 BTC, spending $8.4 million in the quarter ending September 30, and an additional 40 BTC for $2.6 million post-Q3. With Bitcoin prices hovering around $68,000, Semler’s investment has now increased to almost $72 million.
Ranked as the 17th-largest Bitcoin holder among publicly traded companies, Semler surpassed Japanese investment firm Metaplanet’s holdings. Eric Semler, the company’s chairman, expressed their strategy to maximize stakeholder value through Bitcoin accumulation. They plan to continue purchasing Bitcoin using operational cash and proceeds from their ATM program, along with exploring additional financing opportunities for further acquisitions.
Following the disclosure of Semler’s Q3 results, its share price saw a 3.44% surge in after-hours trading to $31. Despite a 2.31% decline earlier in the day, the company’s stock price is down by 32.2% year-to-date.
Semler’s Q3 financial performance showed a mixed bag, with a 17% decrease in quarterly revenue while net income rose by 2% compared to the previous year. Despite fluctuations in financial outcomes, Semler remains steadfast in its Bitcoin acquisition strategy and commitment to driving innovation in the healthcare sector.
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