TLDR
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Semler bought $20M in Bitcoin, raising holdings to 4,449 BTC, even as Q1 profits sank due to a DOJ liability.
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Semler launched a BTC dashboard to boost investor transparency after raising $136M through equity to fund its Bitcoin strategy.
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Semler used ATM equity sales and cash flow to buy BTC at an average of $92K, with unrealized gains of over $56M.
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Revenue dropped 44%, but Semler remains focused on Bitcoin and cardiovascular product growth to rebound financially.
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The firm sees BTC as a long-term reserve asset, aligning digital accumulation with core business expansion.
Semler Scientific increased its Bitcoin reserves by acquiring 185 BTC worth $20 million between May 23 and June 3. The company proceeded with the purchase despite reporting a significant decline in quarterly earnings. Investors responded with moderate confidence as the stock recovered slightly after early volatility on June 4.
Bitcoin Holdings Reach 4,449 BTC After Latest Acquisition
Semler Scientific completed its latest Bitcoin purchase using proceeds from its at-the-market equity program launched in April 2025. The company acquired 185 BTC at an average price of $107,974 per coin, pushing total holdings to 4,449 BTC. As of June 3, the company had invested $410 million into Bitcoin, currently valued at approximately $446.2 million.
Moreover, the company reported a 26.7% year-to-date BTC yield, which it uses as a key performance metric. The BTC yield reflects the percentage increase in value of Semler’s total Bitcoin holdings since accumulation began in 2024. The company shared updates via its new Bitcoin dashboard and highlighted its strategy to fund purchases through equity and cash flow.
The dashboard aims to provide transparency on digital asset metrics and strategic performance. Semler intends to use this tool to support investors’ understanding of the expansion of treasury. The dashboard includes information on average purchase prices, total holdings, and current valuation.
Equity Sales and Financing Drive BTC Growth Strategy
Semler launched its ATM program in April and has raised $136.2 million by selling over 3.6 million common shares. This capital supports the continued accumulation of Bitcoin through calculated market entries. The program provides flexibility while avoiding debt-heavy financing structures that could pressure the balance sheet.
The Chairman confirmed that the company uses operating cash flow and financing tools to increase its Bitcoin exposure. Management sees the digital asset as a long-term reserve asset that complements the company’s core business. This dual approach ties Bitcoin accumulation to ongoing operational and capital strategies.
By June 3, the company reported holding all 4,449 BTC at an average cost of $92,158 per coin. The current market price of Bitcoin stood at $104,897, reflecting a substantial unrealized gain on the portfolio. Semler expects continued upside in Bitcoin as part of its long-term growth plan.
Q1 Earnings Report Shows Financial Strain
Semler reported a sharp drop in revenue and profit in Q1 FY2025. Total revenue fell 44% year-over-year to $8.8 million, while operating expenses surged to $39.9 million. The sharp rise in costs was mainly due to a $29.8 million contingent liability related to a potential DOJ settlement.
This led to a $31.1 million operating loss compared to a $7.0 million profit in the same quarter last year. Management acknowledged the strain but emphasized future growth opportunities from its cardiovascular product line. The FDA-cleared product was introduced to major clients earlier in 2025.
Leadership anticipates that new product sales will strengthen operating cash flows and fund its Bitcoin strategy. The CEO highlighted early demand signals and reaffirmed the company’s commitment to growth. Semler aims to generate cash from healthcare while using Bitcoin as a parallel value strategy.
