- Semler confirms DOJ deal and doubles down on Bitcoin treasury growth.
- S-3 filing reveals $500M raise to fuel BTC buys and tech investments.
- BTC-backed loan with Coinbase funds, DOJ deal, hedges liquidity risk.
Semler Scientific’s CEO Eric Semler confirmed a key DOJ settlement and reaffirmed his push toward Bitcoin expansion. In a tweet on April 15, Semler stated he’s “excited to buy more BTC,” following news of an agreement in principle.
Corporate Treasury Is Converting to Bitcoin at Scale
Semler shared that the company now holds over 3,100 BTC, with continued accumulation planned, as reported by Mario Nawfal’s Roundtable. The post noted that the CEO’s message received more than 22,000 views within hours of publication. The announcement further amplified Semler’s position as a corporate leader, doubling down on the bitcoin strategy.
The company’s recent actions underscore a shift from traditional healthcare tech to a treasury model driven by bitcoin positioning. Semler is one of the few Nasdaq-listed firms pairing corporate finance with digital asset conviction.
S-3 Filing Reveals Structure Behind the Crypto Expansion
Semler filed a Form S-3 registration with the SEC to raise up to $500 million through debt, equity, warrants, or units. The structure includes both a base and at-the-market prospectus, maximizing flexibility across market windows.
Besides general business funding, the offering will support BTC acquisitions and tech investments tied to long-term strategic shifts. In a report, Semler confirmed that bitcoin remains its “primary treasury reserve asset” since May 2024.
The filing outlines that Semler uses proceeds and cash flow to acquire BTC through institutional custodians like NYDIG and Coinbase Custody. Cold and hot wallets are used for security, with reconciliations tracked against the blockchain.
Moreover, the document describes execution strategies through multiple liquidity providers using TWAP methods to reduce slippage during large purchases. Custodians are required to meet regulatory and insurance criteria, ensuring institutional-grade protection.
BTC-Backed Loans Power Legal and Liquidity Strategy
To cover the DOJ’s $29.75 million civil settlement, Semler entered a bitcoin-backed loan agreement with Coinbase Credit Inc. on April 15. The firm will borrow cash using BTC as collateral, under strict margin terms and custody rules.
The credit facility includes monthly interest and dynamic collateral coverage monitored by Coinbase, with potential top-ups triggered by BTC volatility. Loan terms will be set per deal, based on market prices and risk parameters.
If the DOJ settlement finalizes, Semler intends to draw funds under the agreement and combine them with its $9.9 million cash. This structure positions Bitcoin as both a financial asset and an operational liability hedge.
