- On Monday, the Nasdaq-listed healthcare technology company released its third-quarter results report and revealed its latest bitcoin acquisitions.
The healthcare IT business Semler Scientific has paid $3 million for an extra 47 bitcoin as part of its continued goal to accumulate bitcoin, bringing its total holdings to 1,058 bitcoin.
In addition to releasing its third-quarter earnings figures, the Nasdaq-traded company said Monday that it intends to buy more bitcoin while operating its healthcare business.
While fostering innovation and expansion in our healthcare company, we continue to be completely focused on collecting and holding bitcoin.
Semler Scientific’s stock increased 3.4% in after-hours trading on Monday, but it ended the day down 2.3% at $29.97. According to Google Finance, the stock price has increased 18.1% in the last month but is still down 32.1% so far this year.
The business has stated time and time again that bitcoin is now its main treasury asset. According to their announcement, Semler Scientific paid $8.4 million for 141 bitcoin during the third quarter.
The company’s approach to acquiring bitcoin is similar to that of MicroStrategy, the most publicly traded corporation with 252,220 bitcoin.
By amassing bitcoin, we are taking advantage of the chance to optimize stakeholder value. We want to keep using the cash from operations and sales proceeds from our ATM business to buy bitcoin. We are also looking at other funding options that will allow us to purchase even more bitcoin.
Additionally, Semler Scientific reported that its at-the-market (ATM) program went into effect on August 13 and permits it to occasionally issue and sell up to $50 million worth of its ordinary shares. According to the announcement, the corporation sold 86,734 shares under the agreement for $2.5 million as of September 30.
The company’s third-quarter net income increased to $5.6 million from $5.5 million during the same period previous year, according to its most recent earnings report. Revenues for the third quarter were $13.5 million, a 17% decrease from the previous year.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
