2024

Bitcoin

DeFi

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 US-based manufacturer Semler Scientific increased its Bitcoin holdings to 1,058 BTC, valued at $71 million, following its acquisition of over 47 BTC in the third quarter of 2024. 
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<a style="color: #0000ff;" href="https://www.prnewswire.com/news-releases/semler-scientific-reports-third-quarter-2024-financial-results-and-additional-bitcoin-purchases-302295779.html">In its Q3 financial results report</a>, CEO Doug Murphy-Chutorian emphasised that the healthcare equipment manufacturer is “laser-focused on acquiring and holding Bitcoin” while continuing to drive innovation and growth within its healthcare operations. 
Chairman Eric Semler also echoed this strategy, stating the company’s intent to use cash from operations and proceeds from its at-the-market (ATM) equity program to purchase Bitcoin. He also noted the company’s exploring further financing options to bolster its Bitcoin holdings. 
The expansion in Bitcoin holdings comes during a tough quarter for Semler, with a reported 17% year-over-year drop in revenue to $13.5 million and a 20% decline in operating income to $5.1 million, as outlined in its Q3 earnings report.&nbsp; 
The company <a style="color: #0000ff;" href="https://defi-planet.com/2024/05/semler-scientific-adopts-bitcoin-as-primary-treasury-reserve-asset/">first entered the Bitcoin market</a> in May with an initial investment of $40 million to purchase&nbsp; 581 BTC. It described the cryptocurrency as a “reliable store of value” and a favourable hedge against inflation due to its scarcity and resilience, which it views as more appealing than gold. 
Since then, Semler has been steadily purchasing BTC, with a notable $17 million investment made in June, as <a style="color: #0000ff;" href="https://defi-planet.com/2024/06/semler-scientific-boosts-bitcoin-holdings-by-17m-plans-to-raise-150m-to-acquire-more/">disclosed</a> in an S-3 filing to the U.S. Securities and Exchange Commission. In August, it <a href="https://www.prnewswire.com/news-releases/semler-scientific-announces-additional-bitcoin-purchases-302230158.html">expanded </a>its holdings to over 1,000 BTC, investing an additional $5 million for 83 BTC, bringing its total to 1,012 BTC at a cumulative cost of $68 million.&nbsp; 
The company stated that its purchases were funded by cash from operations and resources from its at-the-market equity program. 
Murphy-Chutorian underscored Semler’s commitment to this strategy, reaffirming the company’s focus exclusively on Bitcoin with no intentions to diversify into other cryptocurrencies. 
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The post <a href="https://defi-planet.com/2024/11/us-manufacturer-semler-scientific-expands-bitcoin-portfolio-to-over-1000-btc-in-2024-q3/">US Manufacturer Semler Scientific Expands Bitcoin Portfolio to Over 1,000 BTC in 2024 Q3</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

US Manufacturer Semler Scientific Expands Bitcoin Portfolio to Over 1,000 BTC in 2024 Q3

DeFi Planet

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