Scientific firm Semler surpasses leading Bitcoin ventures with a 22.2% year-to-date return on Bitcoin, despite experiencing a loss in Q1.
Cryptocurrency Winners and Losers: Q1 Report
Semler Scientific gave the industry a run for its money, posting a whopping 22.2% year-to-date Bitcoin yield in Q1 of 2025, surpassing major players like Strategy and Riot Platforms. In its earnings report, released on May 13, this publicly-traded medical device firm showcased its Bitcoin savvy, reporting significant gains on its Bitcoin treasury strategy.
With $41.6 million in BTC gains in Q1, the figure swelled to $52 million by May 12. Semler bought 894 BTC during Q1 at a total cost of $90.7 million, amassing a total of 3,192 BTC as of March 31. However, this stash took a minor hit, reflecting a cumulative decrease of $16.9 million in fair value. The company continued its Bitcoin buying spree by purchasing an additional 616 BTC for $59.6 million, bringing its total holdings to 3,808 BTC as of May 12, with a fair value of $387.9 million.
Sadly, Semler's Bitcoin success didn't translate to overall profits, as the company recorded a net loss of $64.7 million in Q1, due to increased operating expenses and a potential DOJ settlement contingency liability. In terms of revenue, Q1 earnings tallied at $8.8 million, down 44% year-over-year.
Strategy, Struggling to Keep Up
While Semler's BTC holdings are modest compared to other publicly-traded Bitcoin-rich companies, its 22.2% year-to-date BTC yield certainly leaves its competitors behind. Strategy, the largest corporate holder with 553,555 BTC, boasted a 13.7% BTC yield as of April 28, translating to a $5.8 billion gain year-to-date. This puts Strategy at 58% of its revised full-year BTC dollar gain target of $15 billion. Despite this impressive growth, fair value accounting rules resulted in an astounding GAAP net loss of over $4.2 billion in Q1.
Riot Platforms Struggling Under Pressure
Riot Platforms, holding 19,223 BTC as of March 31, reported a year-to-date BTC yield of 7.7%. The company produced 1,530 BTC in the first quarter, but its profitability was squeezed by a sharp increase in average Bitcoin mining cost to $43,808 per BTC, a rise triggered by the April 2024 halving and increased global hash rate competition.
MARA's Secret Bitcoin Gains
MARA, the second largest corporate holder of Bitcoin, has not disclosed an explicit Bitcoin yield percentage for the first quarter of 2025, but its substantial increase in holdings—from 17,320 BTC in Q1 2024 to 47,531 BTC in Q1 2025, a 174% year-over-year jump—suggests aggressive accumulation and operational scale-up.
Trading Up: Semler and Strategy
Semler's impressive Bitcoin yield has placed it ahead of other Bitcoin-hoarding titans like Strategy and Riot Platforms. However, Strategy's revised 2025 BTC yield target has been raised to 25%, up from an earlier target of 15%, demonstrating management's optimistic outlook on their Bitcoin investments.
[1] MicroStrategy raised its 2025 Bitcoin yield target to 25%, up from 15%.[2] MicroStrategy's Q1 2025 Bitcoin yield was 11%.[3] MicroStrategy's year-to-date Bitcoin yield (as of Q1 end) is 13.7%.[4] MicroStrategy's 2025 Bitcoin yield growth is primarily driven by the company's focus on Bitcoin accumulation and its optimism towards the Bitcoin strategy.[5] MicroStrategy's net losses are mostly due to unrealized write-downs on Bitcoin price declines.
- Semler Scientific's Bitcoin success has set a high benchmark in the industry, boasting a 22.2% year-to-date Bitcoin yield, surpassing major players like Strategy and Riot Platforms.
- Despite Strategy being the largest corporate holder of Bitcoin, its 13.7% BTC yield as of April 28 is still significantly behind Semler's impressive figure.
- Riot Platforms, holding 19,223 BTC, reported a year-to-date BTC yield of 7.7%, struggling under increased mining costs and global hash rate competition.
- MARA, the second largest corporate holder of Bitcoin, has shown aggresive accumulation and operational scale-up, increasing its holdings by 174% year-over-year, but hasn't disclosed an explicit Bitcoin yield percentage for Q1 of 2025.
- Strategy, aiming to catch up with Semler, has raised its 2025 Bitcoin yield target to 25%, up from an earlier target of 15%, demonstrating a positive outlook on their Bitcoin investments. In the crypto-finance world dominated by technology, investing in various players remains a dynamic and intriguing prospect. Tron, for instance, with its native token TRX, provides a platform for decentralized exchange (DEX) and ICOs, offering another avenue for crypto enthusiasts.
