Medical device company Semler Scientific purchased another Bitcoin tranche for $20 million between May 23 and June 3, bolstering its Bitcoin treasury to 4,449 BTC and keeping it within the top 14 of Bitcoin treasury companies. Semler Bolsters Its Bitcoin Treasury To 4,449 BTC According to a June 4 disclosure, Semler bought a total of 185 BTC for an average purchase price of $107,974 per coin, inclusive of fees and expenses. To buy the Bitcoin, Semler Scientific used proceeds from an at-the-market stock offering program. Semler’s latest bitcoin purchases were made with proceeds generated from the issuance and sale of SMLR common stock. In April, Semler teamed up with Barclays Capital, Cantor Fitzgerald, Canaccord Genuity, Craig-Hallum Capital Group, Lake Street Capital Markets, and Needham & Company to sell up to $500 million of its common stock through an at-the-market (ATM) program. As of June 3, Santa Clara, California-based Semler Scientific has sold 3.5 million shares under the agreement, raking in roughly $136.2 million in net proceeds, the company said in the filing. Semler now holds a total of 4,449 BTC, worth approximately $466 million based on bitcoin’s current price just below $105,000. The firm’s Bitcoin treasury was bought at an average price of $92,158 per bitcoin, for a total cost of around $410 million, including fees and expenses. This means Semler is currently sitting on around $56 million in unrealized profits. It now ranks 14th out of the largest companies holding Bitcoin. Semler has been aggressively buying Bitcoin since last year, following the model created by Strategy (formerly known as MicroStrategy) and its Chairman and major Bitcoin advocate, Michael Saylor. Year-to-date, Semler said it had achieved a so-called BTC yield of 26.7%. BTC yield, a metric popularized by Saylor and Strategy, refers to the ratio of a company’s Bitcoin holdings and its assumed shares outstanding. For comparison, Strategy, the world’s largest publicly traded holder of Bitcoin with nearly 3% of the total supply, has a 16.9% BTC yield year-to-date. Corporate Bitcoin Accumulation Race Heats Up There are now over 75 companies that are now treating Bitcoin as a treasury asset. Last week, Trump Media, GameStop, and European soccer giant Paris Saint-Germain F.C. became the latest to disclose their BTC treasuries. Last Thursday, Trump Media announced it had successfully closed its private placement offering, raising net proceeds of over $2.3 billion to acquire the alpha crypto. A day earlier, GameStop said it had bought its first 4,710 BTC (valued at around half a million dollars). Just days before competing in the UEFA Champions League final, Paris Saint-Germain publicly confirmed that it is holding Bitcoin as part of its treasury.
