The medical equipment manufacturer Semler Scientific has provided investors with an update on its Bitcoin holdings.
It currently has $114 million in Bitcoin. Semler paid $17.7 million, or $82,502 per Bitcoin, for 215 Bitcoin between November 6 and November 15.
According to a press statement, the corporation currently has 1,273 Bitcoins, which were acquired for a total of $88.7 million, with an average price of $69,682 per Bitcoin.
The current price of Bitcoin is $90,400 as of this writing. Semler stated in May that it had spent $40 million for 581 Bitcoin as its first acquisition under the new reserve strategy. Its stock price at the time increased by 25% as a result of this acquisition.
Citing Bitcoin’s distinct scarcity and durability, the company emphasized its potential as a safe haven and inflation hedge.
ATM Offering
Additionally, the business disclosed that it sold 505,544 shares under its Controlled Equity Offering arrangement with Cantor Fitzgerald in order to raise $21.5 million through an at-the-market offering.
Its Bitcoin purchases and other operating requirements are supported by this funding. Semler uses a metric known as BTC Yield to monitor the effectiveness of their Bitcoin strategy.
According to the statement, BTC Yield calculates variations in the proportion of the company’s outstanding diluted shares to its Bitcoin holdings.
Its Bitcoin Yield was 18.9% from October 1 to November 15, 2024, and 37.3% from July 1 to November 15, 2024.
The business issued a warning, stating that BTC Yield should be considered as one component in evaluating its Bitcoin treasury strategy and is not a conventional financial metric.
