Semler Scientific reports $41.8 million bitcoin-related write-down in first quarter

Medical diagnostics company Semler Scientific has reported a significant write-down of its Bitcoin holdings.
According to CryptoPotato on the 20th (local time), Semler Scientific filed its latest report with the U.S. Securities and Exchange Commission (SEC) on the 15th,
The company said it had recorded a book loss of about $41.8 million in the first quarter of 2015. The loss was due to the price of Bitcoin dropping from about $93,500 in early January to about $82,000 at the end of March.
Semler has been actively investing in Bitcoin despite the market decline, holding 3,182 BTC as of the end of the quarter.
This puts the company at 12th place in the ranking of global companies by Bitcoin holdings, overtaking Oyaa Interactive International Limited.
CEO Doug Murphy-Chutorian reaffirmed the company's strategy to balance bitcoin accumulation with healthcare innovation.
The company expects a profit of $8.8 million to $8.9 million and an operating loss of $1.3 million to $1.5 million. As of March 31, 2025, Semler will report cash and cash equivalents of approximately $10 million.
Semler has announced plans to issue up to $500 million in securities for general corporate purposes and uses that include purchasing additional cryptocurrency.
However, investors have reacted with some caution. Semler's shares, listed on the Nasdaq (ticker:
SMLR) has fallen more than 22% so far this year.