Semler Scientific (Nasdaq: SMLR), a medical technology company, announced that between Feb. 14 and April 24, 2025, it acquired 111 bitcoins ( BTC) for $10 million. The coins were acquired for an average of $90,124 per bitcoin using proceeds from its at-the-market (ATM) offering program and available cash.
The additional bitcoins brought Semler Scientific’s holdings to 3,303 bitcoins purchased for a total of $290.4 million at an average price of $87,929 per bitcoin. According to a statement, the market value of Semler Scientific’s BTC holdings on April 24 at 4 p.m. EDT stood at $309.1 million.
The medical technology company’s latest BTC holdings update came just over a week after it filed a $500 million mixed-securities offering to fund additional bitcoin acquisitions. As reported by Bitcoin.com News, the filing allows Semler Scientific to sell debt securities, common stock, units and use the proceeds primarily to buy more BTC.
To support its BTC acquisitions, Semler Scientific has utilized a new Controlled Equity Offering Sales Agreement. Under its initial agreement with Cantor Fitzgerald, the company issued and sold 2,438,274 shares for net proceeds of approximately $126 million. Following the effectiveness of a new ATM equity offering program on April 22, 2025, the company ceased selling shares under the initial agreement.
The new agreement with Barclays Capital, Cantor Fitzgerald, Canaccord Genuity LLC and three other firms allows Semler Scientific to issue and sell up to $500 million in common stock. Under this agreement, Semler Scientific had, as of April 24, sold 57,100 shares, generating approximately $2 million in net proceeds.
According to the statement, Semler Scientific reported a 23.5% year-to-date BTC yield through April 24, 2025. The company uses BTC yield as a key performance indicator (KPI) to evaluate its bitcoin acquisition strategy and assess its impact on stockholders.
Semler Scientific believes this KPI is useful to investors seeking to understand its decision to fund the purchase of BTC by issuing additional shares of its common stock or instruments convertible to common stock.
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