Semler Scientific Dives Into Cryptocurrency, Plans to Acquire Bitcoin

Semler Scientific Inc SMLR, a medical technology company, has announced a significant move into the cryptocurrency space with its latest convertible notes offering and plans to acquire Bitcoin BTC/USD.

Medical technology company Semler Scientific Inc (NYSE:SMLR) has announced a major move into the cryptocurrency space with its latest convertible notes offering and plans to acquire Bitcoin (CRYPTO: BTC).

Semler Scientific announced on Tuesday that it has priced an upsized offering of $85 million in 4.25% convertible senior notes due 2030.

The offering was initially set at $75 million, but was increased due to strong investor interest.

The notes will be convertible into Semler's common stock at an initial conversion price of approximately $76.44 per share, which represents a 25% premium over the stock's last reported sale price.

Semler Scientific said it intends to use a portion of the net proceeds “for general corporate purposes, including the acquisition of bitcoin.”

This marks a significant shift in the company's treasury management strategy, as it joins a select group of publicly traded companies that have adopted Bitcoin as a treasury asset, following the lead of companies like MicroStrategy (NASDAQ:MSTR).

The move also comes amid a broader trend of increasing corporate Bitcoin adoption, with Bitcoin miners like Marathon Digital Holdings (NASDAQ:MARA) also pivoting to "BTC Yield" strategies that are inspired by MicroStrategy's approach.

In Asia, Metaplanet Inc. is also making waves with its Bitcoin investment strategy, with the Tokyo-listed company announcing that it has purchased an additional $10.4 million in Bitcoin.

This brings Metaplanet's total holdings to over 1,018 BTC, which is valued at approximately $67.1 million at current prices.

Metaplanet's approach has led to it being dubbed "Asia's answer to MicroStrategy," as the company positions itself in a manner that is similar to MicroStrategy's strategy in the U.S.

MicroStrategy has thus far acquired a total of 461,000 Bitcoin, and Semler Scientific was last reported to have expanded its Bitcoin holdings to over $180 million in December 2024.