Semler Scientific, a healthcare technology firm, has disclosed substantial unrealized losses from its Bitcoin investments during the first quarter of 2025, coinciding with a significant downturn in the cryptocurrency market.
As reported in a filing with the U.S. Securities and Exchange Commission (SEC) on April 15, Semler experienced a loss of approximately $41.8 million attributed to shifts in the fair value of its Bitcoin assets since December 31.
At the conclusion of the quarter on March 31, the company announced it held 3,182 BTC, valued at approximately $263.5 million.
Bitcoin Sees 12% Decline in Q1, Drops from $93.5K to $82.3K
Throughout the first quarter, Bitcoin’s market value experienced a decline of around 12%, falling from $93,500 at the start of January to $82,350 by the end of March.
The overall downward trend, which saw Bitcoin’s price plummet from its all-time high to a low below $75,000 on April 7, represents a significant 32% decrease.
In addition to the impact of its Bitcoin holdings, Semler reported projected revenues ranging from $8.8 million to $8.9 million for the quarter, while predicting operational losses between $1.3 million and $1.5 million.
The company closed the quarter with approximately $10 million in cash and cash equivalents.
Despite the recent fluctuations in the market, Semler remains steadfast in its Bitcoin investment strategy.
In a statement from November, CEO Doug Murphy-Chutorian highlighted the firm’s commitment to both healthcare innovation and the acquisition of Bitcoin.
Currently, Semler ranks as the twelfth-largest corporate holder of Bitcoin, surpassing firms such as Hong Kong’s Boyaa Interactive.
Additionally, Semler revealed it has reached an initial agreement to pay nearly $30 million to resolve a civil investigation by the Department of Justice.
The company also detailed plans in a separate SEC filing to raise up to $500 million in securities, a portion of which is earmarked for additional Bitcoin purchases.
“We may offer and sell securities from time to time… up to an aggregate value of $500,000,000,” the firm noted in its filing.
JUST IN: Semler Scientific files to raise $500 million to buy more #Bitcoin pic.twitter.com/oKxKaBCvZB
— Bitcoin Magazine (@BitcoinMagazine) April 15, 2025
The stock of Semler, listed on Nasdaq under the ticker SMLR, has dropped 36% since the start of the year, with the company acknowledging that the volatility of its share price may continue in the short term.
Public Companies Increase Bitcoin Holdings by 16% in Q1 2025
In the first quarter of 2025, publicly traded companies collectively expanded their Bitcoin holdings by 16.1%, indicating ongoing institutional interest in the cryptocurrency despite the prevailing market volatility.
According to findings from crypto asset manager Bitwise, corporate Bitcoin holdings surged to approximately 688,000 BTC by the end of the first quarter, with companies adding 95,431 BTC during this period.
The total value of these holdings reached about $56.7 billion, based on a closing price of $82,445 per Bitcoin during Q1, reflecting a 2.2% increase in value.
Furthermore, the adoption of Bitcoin is gaining traction across various states in the U.S., with Bitcoin Law reporting 47 Bitcoin reserve bills introduced in 26 states, of which 41 remain active.
Recently, Kentucky Governor Andy Beshear enacted House Bill 701, known as the “Bitcoin Rights” bill, adding the state to the list of those enacting legislation to protect digital asset users and their operations.
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