Healthcare technology firm Semler Scientific plans to raise $75 million through a private offering of convertible senior notes due in 2030, according to a January 23rd press release. 

The funds will be used for general corporate purposes, including increasing its Bitcoin holdings.

On the same day, the company reported preliminary fourth-quarter 2024 financial results, revealing an unrealized gain of $28.9 million from its Bitcoin investments. 

Semler recently added 237 Bitcoin on January 13th, bringing its total holdings to 2,321 Bitcoin, valued at approximately $241 million with Bitcoin trading near $105,000.

Semler began purchasing Bitcoin in May 2024, joining other companies adopting Bitcoin as a treasury strategy. Its initial purchase of 581 Bitcoin in May resulted in a 30% rise in the company’s stock price.

CEO Doug Murphy-Chutorian emphasized the company’s commitment to Bitcoin, stating, “we are excited to continue executing on our Bitcoin treasury strategy.”

Semler’s Q4 2024 financial projections estimate revenue between $12.1 million and $12.5 million, with operating income ranging from $3.4 million to $3.7 million.

Semler is among a growing number of companies using Bitcoin as a treasury asset. 

MicroStrategy leads the space with 461,000 Bitcoin valued at $48 billion. Currently, Semler ranks as the 13th-largest public company by Bitcoin holdings.

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