Healthcare technology company Semler Scientific has disclosed significant paper losses from its Bitcoin investments during the first quarter of this year, as the cryptocurrency underwent a substantial correction.
The company stated that it incurred a preliminary unrealized loss of about $41.8 million due to fluctuations in the fair value of its Bitcoin assets since December 31, as per a filing with the Securities and Exchange Commission on April 15.
Semler reported having 3,182 Bitcoin
BTCUSD
worth approximately $263.5 million as of March 31. Over the three-month period, Bitcoin prices fell by 12%, dropping from $93,500 at the start of January to $82,350 by the end of March. The overall decline from its peak to a low below $75,000 on April 7 was 32%.
Semler anticipates revenues between $8.8 million to $8.9 million, along with operational losses ranging from $1.3 million to $1.5 million for the quarter. As of March 31, it held cash and cash equivalents of about $10 million.
In November, Semler Scientific CEO Doug Murphy-Chutorian stated, “We remain focused on acquiring and holding Bitcoin while fostering innovation and growth in our healthcare business.”
Semler is recognized as the twelfth largest corporate holder of Bitcoin, surpassing Hong Kong gaming entity Boyaa Interactive International Limited, based on Bitbo data.
Additionally, Semler revealed that it had reached a preliminary agreement to settle claims totaling nearly $30 million related to a civil investigation by the Department of Justice.
Semler plans $500 million securities sale
In a separate SEC filing dated April 15, the company outlined its intentions to offer and sell securities valued up to $500 million, partly to further its Bitcoin acquisition efforts.
“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 filing indicated. Semler’s common stock is traded on Nasdaq under the ticker symbol SMLR.
“Our stock price has been volatile and may continue to experience fluctuations,” the company cautioned. Shares of the medical firm have decreased by 36% since the start of 2025.
Semler plans to allocate the net proceeds from the securities sale “mainly for general corporate purposes, including Bitcoin acquisition,” it clarified.
