Semler Scientific to Raise $500M for Bitcoin Expansion

Semler Scientific, a healthcare technology company, plans to raise $500 million through a securities offering to expand its Bitcoin holdings, despite incurring a 5% unrealized loss on its current Bitcoin investments. The firm has filed a Form S-3 with the SEC to issue various securities, including common stock and debt securities, to fund general corporate purposes and further Bitcoin acquisitions. As of March 31, Semler reported an unrealized loss of $41.8 million due to Bitcoin's price correction, reducing the value of its 3,182 BTC holdings to approximately $263.5 million. Despite market volatility, CEO Doug Murphy-Chutorian emphasized the company's continued commitment to Bitcoin as a primary treasury reserve asset. The firm recently settled a $29.75 million claim with the Justice Department over a federal anti-fraud law violation. Semler's strategy aligns with a broader trend of corporate Bitcoin adoption, with other firms like Strategy Inc. and Metaplanet also increasing their Bitcoin reserves.