Since December, the healthcare technology company Semler Scientific has reported substantial paper losses on its Bitcoin investments, approximately $41.8 million. 31, 2022.
This decline coincided with a sharp correction in the crypto market, as Bitcoin prices fell from $93,500 at the start of January to $82,350 by the end of March. The company holds 3,182 BTC, valued at around $263.5 million as of March 31, 2023.
In its latest SEC filing, Semler also projected revenues between $8.8 million and $8.9 million for the first quarter, alongside operational losses estimated between $1.3 million and $1.5 million. As of the end of March, the firm reported holding approximately $10 million in cash and cash equivalents.
In a separate development, Semler announced plans to offer up to $500 million in securities, which it aims to utilize for general corporate purposes, including the continuation of its Bitcoin acquisition strategy.
Investors have been warned by the company that its stock price has been volatile, with a 36% decline since the beginning of 2025. CEO Doug Murphy-Chutorian emphasized the firm's commitment to acquiring and holding Bitcoin while also supporting innovation in its healthcare operations. Semler Scientific is currently recognized as the 12th-largest corporate holder of Bitcoin, surpassing competitors such as Hong Kong's Boyaa Interactive International Limited.
In addition, a preliminary agreement has been reached by Semler to pay nearly $30 million to settle claims brought about by a civil investigation carried out by the Department of Justice. The company's common stock trades on the Nasdaq under the ticker symbol SMLR.
Follow for Crypto news today.
Post a Comment