The convertible senior notes, set to mature in 2030, provide Semler with capital flexibility while giving investors the option to convert debt into shares.
Semler Scientific, a software technology company focused on the healthcare sector, is ramping up its Bitcoin BTC $70 188 24h volatility: 7.7% Market cap: $1.40 T Vol. 24h: $97.64 B investment strategy with a new fundraising initiative.
The company recently announced plans to raise $75 million through a private offering of convertible senior notes, aiming to use the proceeds to expand its Bitcoin treasury. While the primary focus is on increasing its crypto holdings, a portion of the funds will also be allocated to support general corporate operations.
A Year of Bitcoin Accumulation
The move highlights Semler’s growing commitment to Bitcoin as a treasury asset, aligning with a broader trend among public companies embracing the crypto asset as an alternative store of value.
Semler Scientific first ventured into the crypto space in May 2024, joining a wave of other corporate institutions integrating Bitcoin into their financial strategies. The company’s initial Bitcoin purchase involved 581 BTC, a bold move that led to a 30% jump in its stock price.
Since then, Semler has steadily increased its holdings. Its latest acquisition, completed on January 13, 2025, saw the company add 237 BTC to its reserves. This brought its total Bitcoin holdings to 2,321 BTC, currently valued at $241 million, based on Bitcoin’s recent trading price of $105,000.
The company’s Bitcoin investment has already yielded substantial paper gains. As of its Q4 2024 earnings report, Semler reported an unrealized profit of $28.9 million from its BTC holdings, reinforcing the success of its digital asset strategy.
Expanding Bitcoin Reserves through Convertible Senior Notes
With its Bitcoin investment proving profitable, Semler is looking to increase its exposure further. The company’s $75 million fundraising initiative will be executed through a private placement of convertible senior notes, a financial instrument allowing investors to convert debt into equity under specific conditions.
These notes are set to mature in 2030, meaning investors will receive interest payments until the due date unless they choose to convert their holdings into Semler stock beforehand. This method provides the company with immediate capital while delaying potential stock dilution.
By leveraging this debt structure, Semler aims to secure additional funds for Bitcoin acquisitions while maintaining financial flexibility. The move reflects a growing trend among corporations strategically incorporating Bitcoin into their long-term treasury plans.
Institutional Bitcoin Adoption
Semler Scientific is not alone in its Bitcoin-focused treasury strategy. The trend was pioneered by MicroStrategy, a business intelligence firm co-founded by Michael Saylor, which made history in August 2020 as the first publicly traded company to allocate a significant portion of its cash reserves to Bitcoin.
Since then, MicroStrategy has aggressively expanded its holdings. As of January 2025, the company owns 461,000 BTC, valued at $48 billion, making it the largest corporate Bitcoin holder.
Following MicroStrategy’s lead, several other companies have adopted similar strategies, including Hoth Therapeutics, Genius Group, and Rumble. These firms view Bitcoin as a hedge against inflation and a long-term asset capable of preserving value better than traditional fiat reserves.
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