The company plans to utilize its TAO treasury to earn yield and build infrastructure for Bittensor.
Bittensor treasury company, xTAO, revealed the scale of its TAO treasury today, announcing that it holds 41,538 TAO, worth nearly $16 million.
xTAO’s 30,000 TAO acquisition last week makes it the largest publicly traded holder of the token, and the firm is contributing to the ecosystem by staking its holdings on the Bittensor root network. The company also plans to leverage its holdings to expand validator operations and build out infrastructure for the Bittensor ecosystem.
“The TAO treasury gives us immediate economic exposure to Bittensor and the fuel to stand up validators that generate reliable revenue,” said Karia Samaroo, CEO of xTAO.
“Our goal is simple: build core infrastructure, earn sustainable cash flow, and compound value alongside the Bittensor network,” he added.
TAO is the largest decentralized AI token by market capitalization, boasting a $3.6 billion circulating valuation. The network’s ecosystem of subnets – defined as decentralized commodity markets on Bittensor – commands a $760 million valuation, and reached as high as $920 million earlier this month.
xTAO is not the only Bittensor treasury company, with TAO Synergies, formerly known as Synaptogenix, adopting a similar strategy in June with a $10 million TAO purchase. TAO Synergies aims to acquire $100 million of TAO, worth ten times the company’s current $10 million market capitalization.
