Semler Scientific recently reported its Q2 earnings, showing a decrease in revenues to $14.5 million, down 22% from the previous year. The company also reported a decrease in income from operations to $5.4 million, a 25% drop from the previous year. Despite this decline, Semler Scientific remains focused on its strategic investment in Bitcoin.
In a bold move, Semler Scientific acquired an additional 101 Bitcoin for $6.0 million, bringing their total holdings to 929 BTC, which were purchased for $63 million. This decision follows previous purchases totaling $57.0 million since May 2024. CEO Doug Murphy-Chutorian highlighted the company’s dedication to its Bitcoin strategy while continuing to expand its healthcare business.
Chairman Eric Semler expressed confidence in the market’s positive response to the acquisition and shared plans for further purchases funded by operational cash flow and securities sales under a $150 million shelf registration. The company firmly believes in the value of Bitcoin as an investment and is committed to acquiring more bitcoins in the future.
Despite the news of the Bitcoin acquisition, Semler Scientific’s share price experienced a 10% decrease on Aug. 5 and is currently trading over 1% lower in pre-market trading. This reaction may be due to market fluctuations and investor sentiment surrounding the company’s strategic shift towards Bitcoin.
Investors and analysts will be closely watching Semler Scientific’s next moves in the cryptocurrency space and how it will impact the company’s overall financial performance. The decision to increase Bitcoin holdings could prove to be a lucrative investment in the long run, but only time will tell how it will ultimately impact Semler Scientific’s bottom line.