Semler Scientific Added 215 Bitcoin to Holdings, Bringing Stack to 1,273 BTC

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  • Nov 18, 2024

Disclaimer: The analyst who wrote this piece owns shares of Semler Scientific(SMLR).

Semler Scientific (SMLR) has brought its bitcoin {{BTC}} holdings up to 1,273 tokens worth about $114 million at bitcoin's current price just shy of $90,000

The company Monday morning announced the acquisition of 215 bitcoin for $17.7 million over the ten days ending Nov. 15. That works out to an average price of $82,502 per BTC. This purchase was at least in part funded by share sales under SMLR's at-the-market program, which to date have totaled $21.5 million.

Semler's total holdings of 1,273 BTC were purchased for $88.7 million, or an average price of $69,682 per bitcoin.

The company has now adopted "Bitcoin Yield" as a key performance indicator (KPI). Developed by Michael Saylor's MicroStrategy (MSTR) — the holder of more than 300,000 bitcoin — Bitcoin Yield describes how well a company does in acquiring bitcoin in an accretive manner to shareholders.

"We have achieved a BTC Yield of 37.3% since adopting our bitcoin treasury strategy in the second quarter of this year," said Eric Semler, chairman of Semler Scientific. "We believe this demonstrates substantial bitcoin accretion for our stakeholders."

Semler's announcement Monday morning is the fourth corporate bitcoin purchase (or intent to purchase) disclosure of the day, following Metaplanet , Marathon Digital , and yet another major buy from MicroStrategy .

SMLR was higher by 2.4% in premarket action and ahead by about 33% since beginning to buy bitcoin last summer.