Semler Scientific expanded its Bitcoin treasury with nearly a $30 million purchase and reported a 58.4% BTC yield since adopting its crypto strategy.
Healthcare tech company Semler Scientific increased its Bitcoin (BTC) holdings by acquiring 297 BTC for $29.1 million between Nov. 18 and Nov. 22, at an average price of $97,995 per BTC, according to Nov. 25 press release.
As a result of the company’s latest transactions, its total crypto holdings now amount to 1,570 BTC, purchased at a cumulative cost of $117.8 million and an average price of $75,039 per BTC, the press release noted.
The healthcare technology firm, which adopted a Bitcoin treasury strategy earlier this year, also reported a 58.4% BTC yield since July 1. Between Oct. 1 and Nov. 22, Semler achieved a 37.1% BTC yield. As crypto.news reported earlier, the company tracks the success of its Bitcoin strategy with a metric called BTC Yield, which measures changes in the ratio of Bitcoin holdings to its diluted shares outstanding.
Semler doubles ATM equity offering
Semler Scientific chairman Eric Semler highlighted the company’s success in leveraging Bitcoin as a strategic asset, stating the team is “thrilled to report a 58.4% BTC Yield and the outstanding progress we are making to accumulate Bitcoin on our balance sheet in a highly accretive way for our stakeholders.”
Additionally, Semler updated its capital markets initiatives. The Santa Clara-headquartered company doubled the size of its at-the-market equity offering, increasing the total to $100 million. As of Nov. 22, Semler had raised $50 million in gross proceeds under the program, according to the press release.
Read the full article here