Twenty-four Bittensor subnets generate an estimated $28 million to $35 million in annualized revenue from paying customers, according to SubConnect’s Revenue Index published in August 2026. Compute and infrastructure subnets account for 78% to 82% of verified revenue, with Lium, Targon, and Chutes leading the top three. Fourteen subnets are channeling external revenue into buybacks of their own alpha tokens, creating sustained buying pressure. Enterprise clients include PwC France, Dropbox, and an NYSE-listed REIT. However, this revenue represents only 9% to 12% of the network’s annual TAO emissions exceeding $300 million.
Source: Read the original article
