Semler Scientific (SMLR) is ramping up its Bitcoin strategy, increasing total holdings to 1,273 BTC worth approximately $114 million at the current price of around $90,000.
On Monday, the company announced it had purchased an additional 215 Bitcoin for $17.7 million in the 10 days ending on November 15. This figure corresponds to an average price of $82,502/BTC. At least part of the capital obtained was from selling SMLR shares under the 'at-the-market' (ATM*) program, helping the company raise $21.5 million to date.
Currently, Semler's total holdings are 1,273 BTC, purchased for $88.7 million, which is an average of $69,682/BTC.
The company applies 'Bitcoin Yield' as the key performance indicator (KPI). Bitcoin Yield, developed by MicroStrategy (MSTR) of Michael Saylor — a company holding over 300,000 Bitcoin — describes the efficiency of accumulating Bitcoin to optimize benefits for shareholders.
We have achieved a BTC Yield of 37.3% since implementing the Bitcoin treasury strategy in the second quarter of this year. We believe this demonstrates the increase in value that Bitcoin brings to stakeholders,” said Eric Semler, President of Semler Scientific.
Source: Semler Scientific
Semler's announcement on Monday was the fourth company's Bitcoin purchase (or intention to purchase) announcement of the day, following Metaplanet, Marathon Digital, and another large purchase from MicroStrategy.
Previously, in the Q3 earnings report, Semler Scientific also reported adding 47 Bitcoin to its reserves during the period from late August to early November 2024.
President of Semler Scientific emphasized at that time:
We are taking the opportunity to maximize value for stakeholders by accumulating Bitcoin. We intend to continue purchasing BTC with cash from business operations and from proceeds from our stock sale program.
Market reaction
SMLR shares have increased by more than 2.4% in premarket trading and are up about 33% since the start of Bitcoin purchases last summer.
At the time of writing, the king of cryptocurrency continues to maintain a price above $90,000, despite a slight decrease of 0.3% in the past 24 hours.
BTC price chart 4 hours | Source: Tradingview
*The 'at-the-market' (ATM) program is a mechanism that public companies use to release new shares directly to the open market flexibly, rather than through traditional share issuance like IPOs (initial public offerings) or secondary offerings.
