$TAO has fallen about 80% from its all-time high, but revenue across the Bittensor ecosystem is still growing. Subnets’ annualized external revenue was about $35 million in early September, reached $50 million in October, and is now close to $70 million—doubling in two months. Most of the money comes from compute rentals and AI inference, with Lium, Targon, and Engy leading the way. Compute infrastructure accounts for about 80%.
Still, this revenue is less than a quarter of the over $300 million worth of TAO issued each year. Annualized revenue could top $100 million by year-end. With the price down and revenue rising, the key question now is whether subnets can keep generating real revenue and gradually narrow the gap between business income and token inflation.
My personal view is to wait for TAO to fall below 200, then buy the dip in several batches.
Still, this revenue is less than a quarter of the over $300 million worth of TAO issued each year. Annualized revenue could top $100 million by year-end. With the price down and revenue rising, the key question now is whether subnets can keep generating real revenue and gradually narrow the gap between business income and token inflation.
My personal view is to wait for TAO to fall below 200, then buy the dip in several batches.
