Semler Scientific, a medical device company, purchased of $50 million worth of Bitcoin between May 13 and May 22, bringing the market value of the company’s Bitcoin (BTC) holdings to $474.4 million, keeping it within the top 13 of BTC Treasury companies.

According to a May 23 disclosure, Semler bought a total of 455 BTC for an average purchase price of $109,801. To buy the Bitcoin, Semler Scientific used proceeds from an at-the-market stock offering program. So far, the company has sold roughly 3 million shares of common stock for net proceeds of $115 million.

Semler Scientific’s shares have fallen 1.36% on the same day as the disclosure, though the decrease in its share price is largely in line with the Nasdaq’s performance. That index, which follows top tech stocks, is down 1% on the day.

Semler Scientific share price. Source: Google Finance

In its Q1 2025 earnings report released on May 13, the company revealed a 44% drop in revenue year-over-year. Despite the claimed success of its Bitcoin treasury plan, Semler Scientific’s shares have dropped 18% in 2025, according to Google Finance.

Bitcoin treasury companies, or companies that traditionally sell equity or issue debt to buy BTC, had been drawing the interest of investors looking for exposure to Bitcoin price fluctuations.

Michael Saylor’s Strategy debuted its BTC reserve in August 2020, when it started purchasing Bitcoin. Bitcoin is up 181.6% year to date, while Semler Scientific shares rose 53% since announcing the BTC approach in May 2024.

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