Despite posting a significant $64.7 million net loss for the first quarter of 2025, Semler Scientific continues to aggressively expand its Bitcoin strategy. As of May 13, the healthcare technology firm revealed it now holds 3,808 BTC, currently valued at approximately $395 million.
In its latest performance update, the company reported a 22% Bitcoin yield year-to-date and confirmed that it continues to grow its crypto holdings through a combination of operating cash flow and capital raises.
“We continue to accretively grow our Bitcoin arsenal,” said Chairman Eric Semler, noting that the firm has also launched a public-facing dashboard for real-time tracking of its BTC reserves and key performance indicators.
BTC Accumulation Continues Despite Revenue Drop
Semler began accumulating Bitcoin in May 2024, and since then, has added thousands of BTC to its balance sheet. The company acquired 894 BTC in Q1, worth roughly $91 million, and another 616 BTC by May 12, including 174 BTC purchased most recently. Its average purchase price stands at $89,277 per BTC.
Despite the strategic BTC accumulation, revenue fell 44% year-over-year to $8.8 million, and the company swung from a profit of $6.1 million in Q1 2024 to a steep loss this quarter. The losses also reflect a $30 million settlement with the U.S. Department of Justice concerning a civil investigative demand.
Semler’s stock (SMLR) reacted modestly, climbing slightly before dropping to $36 in after-hours trading. The stock is now down 32% year-to-date.
Among Top Corporate Bitcoin Holders
Semler Scientific now ranks as the 12th-largest publicly traded Bitcoin holder, just behind Germany’s Bitcoin Group SE, according to BiTBO data. CEO Doug Murphy-Chutorian emphasized that future growth and profitability from the firm’s FDA-cleared products and services will continue to support its Bitcoin treasury strategy.
