Semler Scientific Files $500M Offering to Boost Bitcoin Holdings

Semler Scientific, a healthcare technology company, has filed an S-3 registration with the Securities and Exchange Commission (SEC) to raise up to $500 million. This capital raise will be facilitated through various securities, including common stock, debt, and warrants. The funds will be used for general corporate purposes, with a significant portion allocated to purchasing more Bitcoin. This move underscores the company's commitment to its Bitcoin investment strategy, which has been a central part of its corporate strategy since May 2024.

Semler Scientific is already a substantial holder of Bitcoin, with a current stash of 3,192 BTC. The company has been steadily increasing its Bitcoin holdings, with notable purchases in February 2025, when it acquired 871 BTC for $88.5 million, and a separate $30 million purchase late last year. Despite recent fluctuations in Bitcoin's price, Semler remains steadfast in its long-term crypto strategy. The company's CEO, Eric Semler, has expressed excitement about the opportunity to buy more Bitcoin, indicating a strong belief in the asset's potential.

This shift towards Bitcoin is part of a broader turnaround strategy for Semler Scientific. Prior to adopting its Bitcoin treasury strategy, the company was perceived as stagnant, with solid cash reserves but poor stock performance. By becoming one of the largest public company holders of Bitcoin, Semler is repositioning itself as a forward-thinking entity that views Bitcoin not just as a hedge against inflation, but as a safe haven during times of global uncertainty.

In addition to its Bitcoin strategy, Semler Scientific is also navigating a significant legal challenge. The company has reached a tentative $29.75 million settlement with the Department of Justice over allegations related to the marketing of its QuantaFlo product. To cover this settlement, Semler plans to borrow from Coinbase, using its Bitcoin holdings as collateral, and will also utilize its existing cash reserves to meet part of the cost. This dual approach highlights the company's strategic use of its Bitcoin assets to manage both investment and operational challenges.

Despite the boldness of its Bitcoin strategy, Semler Scientific's stock performance has not seen the expected boost, with a 37% decline in share price so far this year. However, the company remains resolute in its belief that Bitcoin is a valuable long-term asset. By continuing to expand its crypto portfolio and redefining its business model, Semler Scientific is betting that this high-stakes strategy will ultimately yield positive results. The company's commitment to Bitcoin reflects a broader trend among corporations exploring digital assets as part of their financial strategies, positioning Semler Scientific at the forefront of this evolving landscape.