Semler Scientific has expanded its Bitcoin treasury reserves with a recent purchase of 210 BTC, bringing its total holdings to 4,846 Bitcoin worth approximately $577.9 million. The medical technology firm targets accumulating 105,000 BTC by 2027 as part of its corporate financial strategy shift.
Despite aggressive cryptocurrency acquisitions, investor confidence has eroded as Semler’s stock price plunged over 18% year-to-date. Concerns center on the company’s pivot from healthcare to volatile crypto investments and its $175 million at-the-market stock offering that diluted shareholder value.
The company simultaneously navigates legal troubles, including a tentative $29.8 million settlement with the U.S. Department of Justice. The agreement resolves allegations of anti-fraud law violations tied to Semler’s QuantaFlo vascular testing product.
Financial analysts note Semler’s struggles contrast with companies seeing positive market reception for similar Bitcoin strategies. Skepticism persists due to the firm’s reliance on equity financing for purchases and unresolved regulatory challenges.