Semler Scientific Expands Bitcoin Holdings Despite Mixed Q3 Financial Results

Semler Scientific has significantly increased its Bitcoin (BTC) portfolio, acquiring an additional 47 BTC for a total of $3 million. This purchase brings the company’s total Bitcoin holdings to 1,058 BTC, with an overall investment of $71 million.

Bitcoin Investment Strategy Amidst Financial Performance

The move comes as Semler Scientific released its Q3 financial results on Monday, revealing mixed outcomes despite the added value from its cryptocurrency investments. The company, known for its technology-driven solutions for chronic disease management, continues to double down on its Bitcoin acquisition strategy, despite some challenges in its healthcare business.

Eric Semler, the chairman of Semler Scientific, expressed confidence in the long-term growth of Bitcoin, stating, “We are capitalizing on the opportunity to maximize stakeholder value by accumulating Bitcoin. We plan to continue purchasing Bitcoin using cash from operations and funds from our ATM program. Additionally, we are exploring other financing options to further expand our Bitcoin holdings.”

Strong Income Performance in Q3

Semler Scientific’s decision to increase its Bitcoin holdings is supported by a solid operational income of $5.1 million in Q3, demonstrating the company’s ability to generate revenue despite mixed financial results. Doug Murphy-Chutorian, MD and CEO of Semler Scientific, reiterated the company’s commitment to Bitcoin, emphasizing that the company’s focus remains on acquiring and holding the cryptocurrency, while continuing to drive innovation and growth in the healthcare sector.

Bitcoin Acquisition Strategy Reflects Similar Tactics as MicroStrategy

Semler’s approach to Bitcoin acquisition mirrors that of MicroStrategy, which has also employed cash purchases and external financing to grow its Bitcoin holdings. By maintaining this strategy, Semler aims to build long-term value for its stakeholders while exploring new opportunities for growth within its core healthcare business.

Semler's continuing investment in Bitcoin highlights the growing trend among companies to diversify their asset portfolios with cryptocurrency, even as they navigate other financial pressures in their traditional business operations.