Semler Scientific, a medical equipment manufacturer that adopted Bitcoin as a reserve asset, saw its shares decline by nearly 2% in after-hours trading yesterday. The company's revenue dropped by 44% over the past year, coming in at $8.8 million for the first quarter of 2025. This resulted in a net loss of $64.7 million for Semler.
Bitcoin Company in Trouble
When you see numbers like these, you might almost think that Semler Scientific's Bitcoin strategy was a last resort. These are certainly not the figures you would expect from a healthy company.
Despite the multi-million dollar loss, Semler Scientific managed to purchase 894 Bitcoin in the first quarter of 2025, bringing their total holdings to 3,192 BTC by the end of March.
Between the end of the first quarter and today, Semler also bought an additional 616 Bitcoin for a total amount of $59.6 million. This brings their current total holdings to 3,808 BTC, carrying a value of $387.9 million.
The company paid $340 million for these 3,808 Bitcoin, resulting in an unrealized profit of approximately $47.9 million for Semler Scientific. This is not an enormous profit, especially considering the company had to absorb a $64.7 million loss in the first quarter.
More Companies Are Buying Bitcoin
Incidentally, Semler Scientific is not the only publicly traded company rapidly acquiring Bitcoin from the market.
According to Bitcoin investment firm River, corporations were the largest buyers of BTC in 2025. Companies collectively now hold 787,000 BTC, with a total of 104 publicly traded companies regularly purchasing Bitcoin.
Strategy remains the largest player in this field. They currently own more than 568,000 BTC, which accounts for nearly 3% of all 21 million Bitcoin that will ever be in circulation.
Strategy is now facing competition from Twenty One Capital, for which investor Tether purchased 4,812 Bitcoin this week for over $400 million.
In this world, hundreds of millions of dollars are regularly thrown around to acquire more Bitcoin. This could very well mean that the digital currency is heading for a particularly interesting period.