Semler Scientific Doubles Down on Bitcoin Strategy, Adding Another US$50M to Its BTC Stash

Semler Scientific has doubled down on its Bitcoin strategy, adding another US$50M (AU$76M) to its BTC stash. The company disclosed in a new SEC filing that it bought 455 BTC

Semler Scientific has added another 455 Bitcoins to its treasury holdings, pushing its total BTC stash to 4,264 at an average price of around US$109,801 per coin.

The company disclosed in a recent SEC filing that it bought the new Bitcoins between May 13 and May 22 at an average price of US$109,801 (AU$168,942).

At current prices, Semler’s Bitcoin holdings are worth approximately US$457M (AU$702M), making it the 13th largest known corporate Bitcoin holder globally. Its total cost basis for BTC sits at US$390M (AU$599M), averaging US$91,471 (AU$140,667) per coin.

Some investors on the 'Semler Army' Discord server expressed excitement over the company’s progress in accumulating Bitcoin and its potential to generate wealth over the coming decades.

“SMLR bought 455 #Bitcoins for $50 million and has generated BTC Yield of 25.8% YTD. Now holding 4,264 $BTC. Flywheel in motion.”

Another investor noted that Semler is quickly becoming one of the largest Bitcoin holders among publicly traded companies.

However, other investors remain skeptical of Semler’s strategy, especially considering the medtech business is struggling and faces a pending lawsuit from the Department of Justice.

Semler’s Pivot to Bitcoin: A Risky Move

The company reported a net loss of US$64.7M (AU$99.5M) in Q1 2025, alongside a 44% drop in revenue year-over-year. It also disclosed US$41.8M (AU$64M) in unrealised Bitcoin losses for 2023.

Despite that, Semler isn’t backing off. It has formed a Bitcoin Strategy Committee and appointed pro-Bitcoin media figure Natalie Brunell to its board. The company has made clear it now views digital assets as central to its long-term plans.

Semler became the second public US company to formally adopt Bitcoin as a treasury asset in 2024, following Strategy, which began accumulating BTC back in 2020. Strategy is now the largest known corporate Bitcoin holder, with 576,230 BTC on its balance sheet at a market value above US$62B (AU$95B).

Related: 10X Research: Bitcoin’s New Highs Spark Quiet Sell-Off by OG Wallets

Reactions to Semler’s Bitcoin strategy have been mixed. Some investors see opportunity in Semler’s shift toward hard money, while others question the logic of pairing a struggling medtech business with a volatile asset class.

Adding to the uncertainty is a pending US$30M (AU$46M) lawsuit and fraud investigation from the Department of Justice, still unresolved, which adds another layer of legal risk to an already high-leverage strategy.