Healthcare technology company Semler Scientific has reported significant paper losses in bitcoin investment worth approximately $41.8 million since December 31, 2022.
This decline coincided with a sharp revision in the crypto market as Bitcoin prices fell from $93,500 in the beginning of January to $82,350 by the end of March. The company owns 3,182 BTC, which is worth approximately $263.5 million as of March 31, 2023.
In its latest SEC filing, Semler also forecast revenues of between $8.8 million and $8.9 million for the first quarter, along with operational losses between $1.3 million and $1.5 million. As of the end of March, the company reported it held approximately $10 million, the equivalent of cash and cash.
In another development, Semler announced plans to provide up to $500 million in securities. This is intended to be used for general corporate purposes, such as continuing the Bitcoin acquisition strategy.
The company has fallen 36% since the start of 2025, warning investors that the stock price is unstable.
CEO Doug Murphy-Chutorian highlighted the company’s commitment to the acquisition and retention of Bitcoin while supporting innovation in its healthcare operations. Semler Scientific is currently recognized as the 12th largest corporate holder in Bitcoin, surpassing its competitors such as Hong Kong’s Boyaa Interactive International Limited.
Additionally, Semler has reached a preliminary agreement to pay nearly $30 million to resolve claims arising from civil investigations conducted by the Department of Justice. The company’s common stock is traded on NASDAQ under the ticker symbol SMLR.