Nasdaq-listed TAO Synergies buys $10 million in Bittensor tokens for treasury

The Block

2025-07-18 20:58:06

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TAO Synergies Inc. (TAOX) announced that it has acquired 29,899 Bittensor tokens for $10 million, adding a decentralized AI-focused cryptocurrency to its treasury.

The holdings, disclosed in a Thursday press release, were completed at an average price of approximately $334 per TAO, bringing the firm’s total stash to roughly $10 million. The Block's price page shows TAO traded near $415 on July 18, valuing the position at more than $12 million and lifting the company’s paper gains to around 20%.

TAO Synergies said it stakes all acquired tokens to earn network rewards on Bittensor, an open marketplace that pays contributors for machine-learning services. The firm plans to execute future token acquisitions as part of its treasury strategy, said Executive Chairman Joshua Silverman, who compared growth in the decentralized AI sector to early internet and Bitcoin adoption curves.

“Our conviction in TAO is driven by the expected continued growth and expansion of decentralized AI, which is gaining significant traction as a portion of total AI spend,” Silverman remarked. “We believe that decentralized AI has the potential to eventually surpass centralized AI.”

The news marks a wave of U.S. micro-caps establishing single-asset crypto treasuries outside of Bitcoin. SharpLink Gaming became the largest ether‑treasury company, while BitMine Immersion amassed over $1 billion in ETH earlier this week.

TAO Synergies, formerly biotech firm Synaptogenix, rebranded and switched tickers to TAOX in June to pursue its Bittensor strategy. The company has a market capitalization of $13 million, and its shares rose by over 4% in pre-market trading on Friday, according to Yahoo Finance data.

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