Semler Scientific, the U.S.-based medical device company that has recently turned heads for its aggressive Bitcoin acquisitions, reported disappointing first-quarter earnings, sending its stock price lower in after-hours trading. The company’s Q1 report , released on May 13, revealed a 44% year-over-year drop in revenue, falling to $8.8 million. Net losses deepened dramatically, hitting $64.7 million compared to a $6.1 million net income in the same quarter last year. Despite closing the regular trading day with a 5% gain, shares of Semler Scientific (NASDAQ: SMLR) slipped 1.91% in after-hours trading to $36, according to Google Finance. The company’s stock has lost more than 32% of its value so far in 2025. Semler attributed the downturn in its financial performance to reduced medical device revenue. However, it continued to invest heavily in Bitcoin , acquiring 894 BTC during the first quarter. As of March 31, Semler held 3,192 BTC valued at $263.5 million, despite a cumulative fair value decrease of $16.9 million. Bitcoin Treasury Strategy Expands Since the end of Q1 through May 12, Semler purchased an additional 616 BTC for $59.6 million, bringing its total holdings to 3,808 BTC at a fair value of $387.9 million. The company’s total purchase cost now stands at $340 million. Semler noted that it saw an unrealized gain of $41.6 million on its BTC holdings during Q1, which has since risen to $52 million. The firm’s debt-to-Bitcoin net asset value ratio is currently at 25.3%, according to its internal Bitcoin dashboard. In a previous SEC filing on April 15, Semler outlined plans to raise $500 million through a share offering, with some proceeds earmarked for expanding its Bitcoin treasury. Corporate Buying Accelerates Semler is among a growing list of public companies accumulating BTC. According to Bitcointreasuries.net, 104 public firms now hold nearly 787,000 BTC. Leading the pack is Strategy (formerly MicroStrategy) with over 568,000 BTC—around 2.7% of BTC total supply. On May 13, stablecoin issuer Tether made headlines after purchasing $459 million worth of Bitcoin on behalf of Twenty One Capital, a company it backs. Twenty One Capital is now the third-largest BTC holder, following Strategy and MARA Holdings. Industry experts like Blockstream CEO Adam Back have suggested that continued institutional demand could trigger “hyperbitcoinization,” potentially propelling Bitcoin’s market cap beyond $200 trillion in the coming decades. The post Semler Scientific Shares Dip as Losses Widen Despite Bitcoin Gains appeared first on TheCoinrise.com .