Semler Scientific Faces Bitcoin Losses Amid Securities Sale Plans

According to Cointelegraph, healthcare technology firm Semler Scientific has reported significant paper losses on its Bitcoin holdings during the first quarter of 2025, following a substantial correction in the cryptocurrency's value. The firm disclosed an unrealized loss of approximately $41.8 million due to changes in the fair value of its Bitcoin holdings since December 31, as per a filing with the Securities and Exchange Commission on April 15. Semler Scientific holds 3,182 Bitcoin (BTC), valued at around $263.5 million as of March 31. During the first three months of the year, Bitcoin prices fell by 12%, dropping from $93,500 at the start of January to $82,350 by the end of March. The cryptocurrency experienced a full correction from its all-time high to a low below $75,000 on April 7, marking a 32% decline. Despite these losses, Semler reported expected revenues between $8.8 million and $8.9 million, alongside operational losses ranging from $1.3 million to $1.5 million for the period. The firm held cash and cash equivalents totaling approximately $10 million as of March 31. In November, Semler Scientific CEO Doug Murphy-Chutorian emphasized the company's commitment to acquiring and holding Bitcoin while fostering innovation and growth within its healthcare business. Semler ranks as the twelfth largest corporate holder of Bitcoin, surpassing Hong Kong gaming firm Boyaa Interactive International Limited, according to Bitbo data. Additionally, Semler disclosed reaching an agreement in principle to pay nearly $30 million to resolve claims related to a civil investigation by the Department of Justice. In a separate SEC filing on April 15, Semler outlined its intention to offer and sell securities worth up to $500 million, partly to support its Bitcoin acquisition strategy. The firm stated, "We may offer and sell securities from time to time in one or more offerings, up to an aggregate value of $500,000,000." Semler's common stock is listed on the Nasdaq under the symbol SMLR. The company cautioned that its stock price has been volatile and may continue to experience fluctuations, with shares having fallen 36% since the beginning of 2025. Semler plans to utilize the net proceeds from the securities sale "primarily for general corporate purposes, including the acquisition of Bitcoin."