Semler Scientific Acquires Additional 185 BTC for $20M

Nasdaq-listed healthcare tech firm Semler Scientific (SMLR) has expanded its bitcoin portfolio with the purchase of 185 BTC. The company accumulated this BTC stash between May 23 and June 3. According to a recent 8-K filing, the coins were acquired for around $20 million at an average price of $107,974 per BTC.

This brings Semler’s total bitcoin stash to 4,449 BTC, now valued at roughly $467 million. The company’s average acquisition cost is $92,158 per bitcoin, with a total outlay of approximately $410 million.

Funding Strategy and Performance Metric

Semler financed its bitcoin acquisitions through a $500 million at-the-market (ATM) stock offering program launched in April. The initiative was established in collaboration with Barclays Capital, Cantor Fitzgerald, Canaccord Genuity, Craig-Hallum Capital Group, Lake Street Capital Markets, and Needham & Company. By June 3, the company had sold 3.5 million shares and raised $136.2 million under the program.

To gauge how effectively these bitcoin purchases are enhancing shareholder value, Semler relies on a metric called BTC Yield. This figure tracks the period-over-period percentage change in the ratio of the company’s bitcoin holdings to its assumed diluted share count. So far in 2025, BTC Yield has climbed to 26.7%, reflecting the company’s aggressive bitcoin strategy.

Despite these moves, Semler’s stock remains flat in premarket activity and has declined 35% year-to-date.

Corporate Bitcoin Treasury Trend Grows

Semler continues to expand its position among the more than 75 companies that have adopted bitcoin as part of their corporate treasury strategies. Recent entrants into this growing group include Trump Media, GameStop, research firm K33, and Champions League winners Paris Saint-Germain. These firms join early adopters such as Metaplanet, Tether-backed Twenty One, KULR, and business intelligence firm Strategy.

Often seen as the leader in this space, Strategy recently added 705 BTC to its holdings, spending $75.1 million at an average price of $106,495 per coin. The latest purchase brings its total bitcoin balance to 580,955 BTC. They were acquired for approximately $40.68 billion at an average cost of $70,023 per coin.

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