xTAO, a public firm focused on the Bittensor network, now holds the largest known TAO treasury among listed companies. The company confirmed on Wednesday that its wallet holds 41,538 TAO, worth roughly $16 million at current market prices.
The figure pushes xTAO ahead of TAO Synergies, which recently disclosed its own holding of 29,899 TAO valued at $10 million. xTAO said it also maintains a large cash reserve to support further purchases, suggesting its exposure to the network may continue to grow.
Karia Samaroo who happens to be the former CEO and Chairman of crypto exchange WonderFi, and now the CEO of xTAO said in a press release, “Our goal is simple: build core infrastructure, earn sustainable cash flow, and compound value alongside the Bittensor network.”
Building Infrastructure for Decentralised AI
xTAO is already deploying its TAO treasury and is already being used to run validator nodes on the Bittensor root network. Through staking, xTAO earns an estimated 10% yield annually, one of several steps toward building out infrastructure for the decentralised AI ecosystem.
Bittensor is a blockchain-based network designed to reward users who contribute intelligence and training data to improve AI systems. TAO tokens are earned based on how useful these contributions are, creating an open platform where developers can take part in AI model development without needing permission or central approval.
xTAO’s rise in the TAO rankings comes shortly after its public listing. Last week, the firm began trading on Canada’s TSX Venture Exchange under the ticker XTAO. The company raised $22.8 million from investors including Digital Currency Group and Animoca Brands.
Shares in xTAO closed down 10.24% at $1.49 on Wednesday, according to data from Google Finance. Still, the company’s recent disclosures underline its broader ambition to position itself as a key player in decentralised AI infrastructure through long-term investment in Bittensor.
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