Summary
- Semler Scientific bought 101 BTC for $6 million.
- Its total holdings are 929 BTC since announcing its adoption of a Bitcoin treasury strategy.
According to an official press release, Semler Scientific bought an additional amount of 101 Bitcoins for $6 million.
The pioneer in developing and marketing technology products and services to healthcare providers for combating chronic diseases revealed its Q2 2024 financial reports.
The official notes reveal that since it announced the adoption of a Bitcoin treasury strategy on May 28, 2024, the company bought a total of 929 BTC for $63 million.
Doug Murphy-Chutorian, MD, chief executive officer of the company, said that they are pleased to report a strong income from operations of $5.4 million in the second quarter of this year.
He continued by stating that they remain laser-focused on acquiring and holding Bitcoin while supporting and expanding their healthcare business.
Eric Semler, chairman of Semler Scientific, revealed that the company is encouraged by the strong positive reaction to the recent announcement of a Bitcoin treasury strategy.
Bitcoin, A Compelling Investment
The firm reportedly continues to believe that Bitcoin is a compelling investment and plans on acquiring more coins with cash from their operations, as well as cash generated from the sales of securities under their $150 million shelf registration statement, once effective.
Here are the company’s BTC buying phases, according to official data:
- On May 28, 2024, the company announced the initial purchase of 581 BTC for $40 million.
- On June 6, 2024, the company announced the purchase of an additional 247 BTC for $17 million.
- On June 28, 2024, the company purchased 49 BTC for $3 million.
As of June 30, 2024, the company was holding 877 BTC with a fair value of almost $55 million which reflected a cumulative reduction in fair value of $5.1 million, according to the same official notes.
As of August 5, Semler Scientific’s total Bitcoin holdings were 929 BTC acquired for an aggregate purchase amount of $63 million. They noted in the report that all purchase amounts include fees and expenses.
