xTAO reveals Bittensor holdings worth $16 million, largest among publicly listed companies
Bittensor-focused public firm xTAO announced Wednesday that it became the largest publicly traded holder of the network's native token TAO.According to its release, xTAO holds a total of 41,538 TAO, which is worth $15.8 million at current rates. The company added that it still owns a substantial amount of cash allocated for further purchases of TAO.This exceeds the holdings of TAO Synergies (TAOX), which recently revealed its acquisition of 29,899 TAO for $10 million."The TAO treasury gives us immediate economic exposure to Bittensor and the fuel to stand up validators that generate reliable revenue," said xTAO CEO Karia Samaroo. "Our goal is simple: build core infrastructure, earn sustainable cash flow, and compound value alongside the Bittensor network."Samaroo previously founded and served as CEO and Chairman of the crypto exchange WonderFi, which Robinhood later acquired for $180 million.xTAO further explained that the TAO treasury will be instrumental in expanding the company's validator operations and developing infrastructure for the Bittensor ecosystem. The company added that it is earning an annual yield of around 10 percent by staking TAO holdings to the Bittensor root network.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.Last week, the company launched its common shares on Canada's TSX Venture Exchange (TSXV). It closed a $22.8 million funding from digital asset venture capital firms including the Digital Currency Group and Animoca Brands.xTAO's stock closed down 10.24% on Wednesday at $1.49, according to Google Finance data.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 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.