Bittensor-focused crypto treasury firm TAO Synergies announced Monday that it entered into a securities purchase agreement to raise $11 million.
The agreement involves the sale of 11,000 shares of the company’s newly issued Series E convertible preferred stock, according to the release. Each share has a stated value of $1,000, and is convertible into shares of TAO Synergies’ common stock, at a conversion price of $8.
The participants of this purchase agreement include the company’s existing investors, its own digital asset strategy advisor James Altucher and a new investor, DCG. The deal is expected to close on or around Oct. 15, 2025, given that the standard closing requirements are met.
“TAO Synergies’ latest financing further supports its continuing strategic investments not only in TAO tokens, but also in potential opportunities to earn revenue and accrue additional TAO within the Bittensor ecosystem,” said Altucher.
TAO Synergies, formerly biotech firm Synaptogenix, rebranded and changed its ticker to TAOX in June as part of its pivot toward a Bittensor-focused strategy. The firm previously said that it stakes all acquired tokens to earn network rewards on Bittensor.
Bittensor operates at the intersection of AI and cryptocurrency, functioning as a platform designed around incentive mechanisms. Users contribute intelligence to improve AI systems, receiving TAO tokens based on the utility of their input. The platform is open-access, facilitating permissionless coordination of AI development.
According to TAO Treasuries data, TAO Synergies is the largest publicly traded holder of Bittensor, holding 42,111 TAO worth over $18.2 million. There are two other Bittensor treasury companies, xTAO Inc. and Oblong.
While the announcement came after markets closed on Monday, TAO Synergies surged 38.46% on the day to $9.54. The company has a market capitalization of $33.27 million, and its stock has climbed 60% over the past month, according to Google Finance data.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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