- Semler Scientific announces a $500M offering to buy more Bitcoin, expanding its BTC treasury.
- The company tentatively settles the DOJ case, funded by a Bitcoin-backed loan from Coinbase.
- Semler’s Bitcoin holdings join firms like MetaPlanet and Strategy, boosting BTC adoption.
Semler Scientific, a healthcare tech firm, has announced a bold $500 million securities offering that could boost the company’s Bitcoin holdings, according to a SEC filing on Tuesday. Amidst this offering, the company has reached a tentative settlement with the Department of Justice (DOJ), agreeing to pay $29.75 million to resolve claims of anti-fraud law violations related to the marketing of its product, QuantaFlo, a blood flow testing device.
The DOJ probe, dating back to 2017, alleged that Semler misrepresented the effectiveness of QuantaFlo in marketing materials. Settlement talks began earlier this year, and in the filing, Semler disclosed that the agreement is not final yet. To fund the payout, the company intends to borrow money from Coinbase under the master loan agreement with Bitcoin as collateral and use the money to pay the settlement with the DOJ.
This move aligns with the company’s newly announced $500 million at-the-market (ATM) shelf offering, which includes a mix of securities like common stock, preferred stock, debt securities, and warrants. This is aimed at acquiring more Bitcoin and deepening its crypto-centric treasury strategy. Following this, Semler Scientific Chairman Eric Semler shared in an X post that he was excited to buy more Bitcoin after the DOJ news made headlines.
Semler began buying Bitcoin in May 2024 and now ranks as the 12th largest corporate Bitcoin holder, according to BitcoinTreasuries. The company currently holds 3,192 Bitcoins, worth $267 million. Semler’s Bitcoin stacking strategy comes simultaneously with other firms such as Michael Saylor’s Strategy and MetaPlanet, reinforcing the growing interest in institutional Bitcoin adoption.
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Semler’s Bitcoin focus has boosted its financial profile, elevating its market capitalization to $329.16 million. However, the company reported that its Q1 2025 revenue fell nearly 17% year-over-year to $8.8 million. Additionally, an unrealized $41.8 million loss was recorded due to the dip in Bitcoin’s price value since December 2024. As Semler navigates the DOJ settlement and pursues its $500 million offering, its focus on legal resolution and crypto investment would likely shape the trajectory of how traditional firms embrace digital assets.
