Source: Cointelegraph Original: "{title}"
Medical technology company Semler Scientific reported a paper loss in its Bitcoin holdings for the first quarter of this year due to a significant pullback in cryptocurrency prices.
According to a filing the company submitted to the U.S. Securities and Exchange Commission (SEC) on April 15, the unrealized loss from changes in the fair value of its Bitcoin holdings since December 31 of last year amounts to approximately $41.8 million.
As of March 31, Semler held 3,182 Bitcoins, valued at about $263.5 million. During this three-month period, the price of Bitcoin fell 12% from $93,500 at the beginning of January to $82,350 by the end of March. From its historical peak to a low of below $75,000 on April 7, the total decline reached 32%.
Semler expects revenue for the period to be between $8.8 million and $8.9 million, with an operating loss of between $1.3 million and $1.5 million. As of March 31, the company held approximately $10 million in cash and cash equivalents.
In November of last year, Semler Scientific's CEO Doug Murphy-Chutorian stated, "We remain focused on acquiring and holding Bitcoin while supporting innovation and growth in our healthcare business."
According to Bitbo data, Semler is the twelfth largest corporate holder of Bitcoin, ahead of Hong Kong gaming company Boyaa Interactive International Limited.
Semler also reported that it has reached a preliminary agreement to pay nearly $30 million to resolve claims related to a civil investigation by the U.S. Department of Justice.
In another filing submitted to the SEC on April 15, the company outlined its plan to issue and sell securities worth up to $500 million, with part of the proceeds intended to continue its Bitcoin acquisition strategy.
"We may offer and sell securities from time to time in one or more offerings, with a total value not exceeding $500 million," the filing stated. Semler's common stock is listed on NASDAQ under the ticker symbol SMLR.
"Our stock price has been volatile and may continue to be volatile," the company warned. Since the beginning of 2025, the medical company's stock price has dropped by 36%.
SMLR Year-to-Date Price. Source: Google Finance
Semler revealed that the net proceeds from the sale of securities are "primarily intended for general corporate purposes, including the acquisition of Bitcoin."
Related: After persuading GameStop to buy Bitcoin (BTC), Strive targets Intuit.
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