Semler Scientific to Raise $75 Million to Buy More Bitcoin

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Key Points:

Semler Scientific is raising $75 million through a private offering of convertible senior notes, with an additional $15 million option for initial purchasers.
The funds will support Semler’s Bitcoin strategy and general corporate initiatives, following the company’s strong 99.3% Bitcoin yield.

Medical device company Semler Scientific intends to raise $75 million through a private offering of convertible senior notes due 2030.

Semler Scientific Announces $75 Million Convertible Notes Offering

Semler Scientific is also granting the initial purchasers a 13-day option to buy an additional $15 million in notes. Final terms, including interest and conversion rates, will be determined during the offering’s pricing stage.

Funds are to be injected into Semler’s Bitcoin-encompassing investment strategy, which will also underpin general corporate ends. This is after the company recently reported its 99.3% Bitcoin yield from recent acquisitions of the cryptocurrency, giving access to an offering of ATMs.

Semler’s move is in line with a growing trend among companies branching out into Bitcoin. The chief executive, Doug Murphy-Chutorian, once again stated that the company was not abandoning its Bitcoin-focused approach, as those investments were what would lead to growth.

In July 2024, executives from Semler credited purchases of Bitcoin with helping the company transcend the “zombie” status term for businesses that cannot grow beyond operational costs and debt.

Semler in Top Ranks of Bitcoin Holding Companies

Other companies that have joined the bandwagon include Hoth Therapeutics, Genius Group, and Rumble. Publicly traded companies collectively now hold more than $60 billion worth of Bitcoin, placing Semler Scientific at 13th among such companies.

MicroStrategy remains the largest corporate holder of Bitcoin, with over $47 billion in held assets, and continues with its buying spree for an 11-week run. Bitcoin yield is an idea by MicroStrategy that accounts for Bitcoin held against outstanding shares and one that is very fast becoming a yardstick for firms entering the crypto space.

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