Bittensor Gains Attention After Nvidia CEO’s Endorsement
Bittensor (CRYPTO: TAO) experienced a surge of approximately 17% on March 25 following positive comments from Nvidia CEO Jensen Huang during an appearance on the All-In podcast. Huang highlighted Bittensor’s approach to decentralized AI training as a viable method, coinciding with Bittensor’s successful training of the Covenant-72B, a 72-billion-parameter large language model, via a decentralized network of over 70 contributors.
Despite its promising technology, Bittensor faces challenges, notably its disparity between subsidies and actual revenue. The top subnet reportedly receives around $52 million annually in subsidies while generating approximately $2.4 million in external revenue, amidst a total demand ranging between $3 million and $15 million. With a market cap of $3.3 billion, analysts caution that the coin’s valuation could be vulnerable if demand does not increase significantly.
