Semler Scientific reports $42M paper loss on Bitcoin, floats $500M stock sale

Healthcare technology firm Semler Scientific has reported paper losses on its Bitcoin holdings over the first quarter of this year as the cryptocurrency saw a heavy correction. 

The firm reported a preliminary unrealized loss from the change in fair value of Bitcoin holdings of approximately $41.8 million since Dec. 31, according to a filing with the Securities and Exchange Commission on April 15.

Semler declared holdings of 3,182 Bitcoin (BTC) valued at around $263.5 million as of March 31. During the three-month period, BTC prices fell 12% from $93,500 at the beginning of January to $82,350 by the end of March. The full correction from its all-time high to the low below $75,000 on April 7 stands at 32%. 

Semler reported expected revenues of $8.8 to $8.9 million and operational losses of $1.3 to $1.5 million for the period. It held cash and cash equivalents of approximately $10 million as of March 31.

In November, Semler Scientific CEO Doug Murphy-Chutorian said, “We remain laser-focused on acquiring and holding Bitcoin while supporting innovation and growth in our healthcare business.” 

Semler is the twelfth largest corporate holder of BTC, ahead of Hong Kong gaming firm Boyaa Interactive International Limited, according to Bitbo data. 

Semler also reported that it had reached an agreement in principle to pay almost $30 million to settle claims related to a civil investigation by the Department of Justice.

In a separate April 15 SEC filing, the firm outlined its plan to offer and sell securities worth up to $500 million, in part to continue its Bitcoin acquisition strategy.

Related: Healthcare tech firm Semler buys 871 Bitcoin, yield tops 150%

“We may offer and sell securities from time to time in one or more offerings, up to an aggregate value of $500,000,000,” it stated. Semler’s common stock is listed on the Nasdaq under the symbol SMLR.

“Our stock price has been volatile and may continue to be volatile,” the firm cautioned. Shares in the medical firm have fallen 36% since the beginning of 2025. 

SMLR price year-to-date. Source: Google Finance

Semler intends to use the net proceeds from the securities sale “primarily for general corporate purposes, including the acquisition of Bitcoin,” it revealed. 

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