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NEW YORK - TAO Synergies Inc. (NASDAQ:TAOX) announced Monday it has increased its Bittensor (TAO) holdings to 54,058 tokens through acquisition and staking activities. The company’s stock, currently trading at $7.23, has shown remarkable strength with a 242% surge over the past six months, according to InvestingPro data.
The company, which describes itself as a digital asset treasury company focused on Bittensor, said the move strengthens its position as the largest publicly traded pure-play holder of the cryptocurrency associated with decentralized artificial intelligence.
TAO Synergies recently raised $11 million in a private placement backed by investors including DCG and James Altucher, the company’s Digital Strategy Advisor. According to the company, these funds have not yet been deployed.
"Bittensor represents the future of open, incentive-driven AI," said Altucher in the press release.
The announcement comes as Bittensor recently entered the top six trending cryptocurrencies on CoinMarketCap, according to the company statement.
TAO Synergies maintains educational initiatives including The TAO Daily and The TAO Pod, co-hosted by Altucher, aimed at making decentralized AI concepts more accessible to potential investors.
The company trades on the Nasdaq under the ticker TAOX and describes its business model as centered on acquiring, staking, and leveraging Bittensor tokens.
This information is based on a company press release statement issued Monday.
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