Semler Scientific, Inc. (NASDAQ: SMLR) shares are experiencing a notable growth following the announcement of its strategic focus on digital assets. As of the latest pre-market check, SMLR stock price surged by 15.99%, reaching $68.75, continuing a strong upward trajectory with a more than 25% increase over the past five days.
Key Bitcoin Purchases and Holdings
Semler Scientific (SMLR) has announced updates on its bitcoin-related operations, emphasizing noteworthy acquisitions. At an average price of $82,502 per bitcoin, SMLR paid $17.7 million for 215 bitcoins between November 6 and November 15, 2024. With an average purchase price of $69,682 per bitcoin, this increases its total bitcoin holdings to 1,273 BTC, which were acquired for a total of $88.7 million.
Capital Markets Activity and Strategic Sales
The company also disclosed its capital markets activities, revealing that since the effective date of its registration statement on August 13, 2024, it has raised $21.5 million through the sale of 505,544 shares under a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. This funding supports Semler Scientific’s strategy of using equity capital to finance its bitcoin purchases, further solidifying its position in the digital asset market.
BTC Yield: A Key Performance Indicator
A critical performance metric for Semler Scientific has been its BTC Yield, which reflects the success of its bitcoin investment strategy. SMLR reported an impressive 18.9% BTC Yield from October 1 to November 15, 2024. More notably, since the adoption of its bitcoin treasury strategy in the second quarter of 2024, Semler achieved a BTC Yield of 37.3%.
This KPI, which Semler Scientific believes demonstrates the positive impact of its bitcoin strategy on stockholder value, has become an essential part of its broader financial performance evaluation. SMLR’s bold foray into digital assets has resulted in substantial returns, bolstering investor confidence and positioning the company for continued growth.
