Semler Scientific's bitcoin holdings hit 4,449 BTC with latest $20 million buy

Nasdaq-listed healthcare tech firm Semler Scientific (ticker SMLR) acquired an additional 185 BTC for approximately $20 million at an average price of $107,974 per bitcoin between May 23 and June 3, according to an 8-K filing with the U.S. Securities and Exchange Commission on Wednesday.

Semler’s latest bitcoin purchases were made with proceeds generated from the issuance and sale of SMLR common stock. In April, Semler entered into an agreement with Barclays Capital, Cantor Fitzgerald, Canaccord Genuity, Craig-Hallum Capital Group, Lake Street Capital Markets and, Needham & Company to sell up to $500 million of its common stock through an at-the-market (ATM) program.

As of June 3, Semler has sold 3,544,588 shares under the agreement, generating approximately $136.2 million in net proceeds, the firm said in the filing. Founded in 2007, Semler manufactures medical-grade technologies and software used particularly in the early detection and treatment of chronic diseases.

Semler now holds a total of 4,449 BTC, worth approximately $467 million, bought at an average price of $92,158 per bitcoin, for a total cost of around $410 million, including fees and expenses — implying around $57 million worth of paper gains. It currently sits 15th by holdings in the corporate bitcoin accumulation race, according to The Block's data dashboard .

Corporate bitcoin accumulation race

There are now more than 75 companies that have adopted some form of bitcoin treasury. Last week, Trump Media , GameStop , K33 , and Champions League winners Paris Saint-Germain became the latest to disclose or advance their bitcoin treasuries, joining the likes of Tether-backed Twenty One , Metaplanet , Nakamoto , and KULR in adopting the bitcoin acquisition model pioneered by Strategy .

Like many of those firms, Semler uses a key performance indicator known as BTC Yield to assess the effectiveness of its bitcoin acquisition strategy in driving shareholder value. BTC Yield represents the percentage change period-to-period of the ratio between Semler's bitcoin holdings and its assumed diluted shares outstanding. Year-to-date, Semler said it has achieved a BTC Yield of 26.7%.

Semler Scientific’s shares are down 0.2% in pre-market trading on Wednesday, according to TradingView.