Bitcoin Drops, $42M in Unrealized Losses

According to an April 15 SEC filing, Semler Scientific reported an unrealized loss of approximately $41.8 million on its Bitcoin holdings since December 31.

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As of March 31, the company held 3,182 BTC, valued at approximately $263.5 million. Over Q1 2025, Bitcoin dropped 12%, from $93,500 in early January to $82,350 at quarter’s end.

Revenue and Operational Update

Semler expects revenues of between $8.8 million and $8.9 million for the quarter, along with an operational loss of $1.3 million to $1.5 million. It reported around $10 million in cash and cash equivalents.

Semler Scientific has also agreed in principle to pay $30 million to settle civil claims raised by the U.S. Department of Justice. Further details on the investigation remain undisclosed.

Bold Move: $500M Securities Offering

In a separate SEC filing on April 15, the firm outlined its plan to offer up to $500 million in securities, stating part of the proceeds will be used to acquire additional Bitcoin.

Semler’s stock, listed under ticker SMLR on Nasdaq, is down 36% year-to-date. The company cautioned about continued volatility but reaffirmed its commitment to long-term Bitcoin accumulation.

Despite facing losses, Semler Scientific remains committed to its dual strategy: growing its healthcare business while investing heavily in Bitcoin. Investors should watch closely as the company navigates regulatory challenges and volatile markets.

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