TL;DR
- TAO Synergies bought 29,899 TAO for $10 million in cash and now holds $12 million in assets, with an unrealized gain of 20%.
- The firm is betting exclusively on Bittensor, staking all tokens to generate income and boost the value of its invested capital.
- Its CEO compares the growth of decentralized AI to the internet in 1996 and Bitcoin in 2013, and plans to keep accumulating tokens as the strategy evolves.
TAO Synergies acquired 29,899 Bittensor tokens for $10 million in cash, at an average price of $334 per token. With that purchase, the firm increased its holdings to roughly $12 million, as TAO is trading around $415, leaving it with an unrealized gain of about 20%.
The company is pursuing a crypto treasury strategy focused entirely on Bittensor, aiming to turn staking yields into value for shareholders.
CEO Joshua Silverman explained that the adoption curve of decentralized artificial intelligence mirrors those of the internet in 1996 or Bitcoin in 2013. “We decided to buy TAO at what we believe is an attractive entry point relative to current market levels. We will continue to accumulate tokens as our strategy progresses,” said Silverman.
James Altucher, TAO Synergies’ treasury strategist, added that the network rewards those who contribute machine learning services and that spending on decentralized AI is accelerating as the complexity of traditional models increases access costs.
TAO Synergies Expands and Reaches a $13 Million Market Cap
All the tokens acquired by TAO Synergies are immediately staked on the Bittensor network. The network operates as an open market where contributors earn rewards for providing computing power and data to machine learning projects. By staking the assets, the firm aims to generate consistent income and drive appreciation of the invested capital.
The company changed its name from Synaptogenix and updated its ticker to TAOX in June. With a market cap of $13 million, its shares rose more than 4% in pre-market trading following the announcement. TAO Synergies is part of a growing wave of U.S. micro-cap companies building single-asset crypto treasuries outside of Bitcoin and Ethereum. Others in this group include SharpLink Gaming, the largest ETH holder, and BitMine Immersion, which accumulated over $1 billion in ETH.
TAO Synergies will issue regular updates on its holdings and performance through press releases and SEC filings.
