Medical Device Maker Semler Scientific Buys $17 Million More Bitcoin and Is Raising Money to Purchase More

Semler Scientific is continuing to add bitcoin to its treasury with a $17 million purchase and an announcement that it's raising $150 million so it can buy more.

Its May announcement of a $40 million bitcoin purchase drove the company's stock up 25%.

Publicly traded Semler Scientific (SMLR), a healthcare business that broadened its corporate strategy to also include buying bitcoin ($BTC), said it's buying $17 million more of the digital currency and preparing to raise $150 million so it can purchase even more.

"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin," said Doug Murphy-Chutorian, MD, Semler Scientific's chief executive officer, in a release. "The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash."

Semler's 828 bitcoin were acquired for $57 million and are now worth $59 million, according to current market data from CoinDesk Indices.

Collectively, publicly listed companies hold 308,442 $BTC worth approximately $21.8 billion on their balance sheets, according to bitcointreasuries.net.

Semler's announcement in late May that it was purchasing $40 million in bitcoin sent its stock up 25%.

SMLR closed the day down 2.5% in U.S. trading.