Bittensor Subnets Pull in $28M-$35M in Annualized Revenue

Bittensor's decentralized AI network has generated an estimated $28 million to $35 million in annualized revenue from actual paying customers, according to the Bittensor Revenue Index published by SubConnect. This represents real money from real businesses, not token emissions masquerading as economic activity.

The majority of this revenue comes from compute and infrastructure subnets, which account for roughly 78% to 82% of all verified revenue. These nine subnets generate an estimated $23.1 million to $27.3 million annually.

Three subnets sit atop the leaderboard: Lium (SN51) generates an estimated $8 million to $10 million annually, Targon (SN4) follows with $5.5 million to $6 million, and Chutes (SN64) rounds out the podium at $4 million to $5 million.

Notably, two subnets reportedly earn more from customers than they receive in miner emissions. Fourteen of the 24 revenue-generating subnets are channeling a portion of their external revenue into buybacks of their own alpha tokens.