The healthcare technology company Semler Scientific has disclosed paper losses related to its Bitcoin investments for the first quarter of this year, coinciding with a significant downturn in the cryptocurrency market.
According to a filing submitted to the Securities and Exchange Commission on April 15, the firm has experienced a preliminary unrealized loss of approximately $41.8 million due to changes in the fair value of its Bitcoin holdings since December 31.
As of March 31, Semler reported possessing 3,182 Bitcoin (BTC), amounting to a value of around $263.5 million. Throughout the quarter, the price of BTC decreased by 12%, dropping from $93,500 at the start of January to $82,350 by the end of March. The total decline from its all-time high to the low recorded below $75,000 on April 7 reaches 32%.
For this quarter, Semler projected revenues between $8.8 million and $8.9 million, alongside operational losses estimated at $1.3 million to $1.5 million. The company had around $10 million in cash and cash equivalents as of March 31.
In November, Semler Scientific CEO Doug Murphy-Chutorian stated, “We remain steadfast in our efforts to acquire and hold Bitcoin while fostering innovation and growth within our healthcare business.”
According to Bitbo data, Semler ranks as the twelfth largest corporate holder of BTC, surpassing Hong Kong gaming company Boyaa Interactive International Limited.
Additionally, Semler has reported reaching a preliminary agreement to pay close to $30 million to resolve claims stemming from a civil investigation conducted by the Department of Justice.
Semler proposes $500 million securities offering
In another SEC filing dated April 15, the firm outlined its intention to offer and sell securities totaling up to $500 million, partly to further its Bitcoin acquisition endeavors.
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,” the statement read. Semler’s common stock trades on the Nasdaq under the ticker SMLR.
“Our stock price has experienced volatility and may continue to do so,” the firm warned. Shares of the medical technology company have declined by 36% since the start of 2025.
SMLR price year-to-date. Source: Google Finance
Semler plans to utilize the net proceeds from the securities sale “primarily for general corporate purposes, including the acquisition of Bitcoin,” as stated in their release.
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