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July 22, 2025 – xTAO Inc. (TSX-V: XTAO.U), the first publicly traded technology company focused exclusively on advancing the Bittensor decentralized AI ecosystem, today announced the commencement of trading of its common shares on the TSX Venture Exchange (TSXV) under the ticker symbol XTAO.U. This significant milestone coincides with the successful closing of an oversubscribed US$22.8 million financing through subscription receipts.
The funding round attracted a consortium of leading venture capital firms in the digital asset industry, including Digital Currency Group (DCG), Animoca Brands, Arca, Arche Capital, Borderless Capital, FalconX, Hypersphere Ventures, Off the Chain Capital, Republic, and Stratos. This substantial investment underscores strong institutional confidence in xTAO’s vision to bridge the burgeoning Bittensor network with traditional finance and accelerate the development of open, permissionless, and borderless AI.
"Our public listing and financing mark important milestones for xTAO, as we execute on our mission of advancing decentralized AI," said Karia Samaroo, Founder and CEO of xTAO. "Bittensor is rapidly emerging as the 'Bitcoin of AI,' and xTAO will be well-positioned to capitalize on its growth potential through the operation of our validator and our use of TAO as our treasury reserve asset."
xTAO’s core business model is strategically designed to contribute to and benefit from the Bittensor network, a groundbreaking decentralized machine learning ecosystem that incentivizes the creation and sharing of AI models globally. The company generates revenue through three primary avenues:
- Validator Rewards: Operating a validator on the Bittensor network, which plays a crucial role in assessing the quality of AI models and ensuring the integrity of the decentralized network.
- Treasury Asset Holdings: Holding TAO, Bittensor’s native token, on its balance sheet and earning staking rewards, aligning xTAO’s financial success directly with the growth of the ecosystem.
- API Usage and Licensing: Providing consumers and enterprises with access to the cutting-edge products and intelligence generated by the Bittensor network through its validator.
An investor noted, "We're very excited to invest in xTAO because it brings structure, visibility, and capital access to Bittensor, helping it attract broader participation and scale into the public markets effectively." Ala Shaabana, a co-founder of Bittensor and an advisor to xTAO, further emphasized, "xTAO has created an institutional product for Bittensor, and we're aligned on the vision and glad to be working alongside them."
The capital raised will be instrumental in bolstering xTAO's treasury reserves with TAO tokens, expanding its validator operations, and enhancing its capabilities to assess and connect Bittensor ecosystem products, thereby driving innovation in the decentralized AI sector.
About xTAO Inc.:
xTAO Inc. (TSX-V: XTAO.U) is the first publicly traded technology company exclusively focused on growing the Bittensor decentralized AI ecosystem. Headquartered in the Cayman Islands, xTAO is building critical infrastructure for Bittensor, investing strategically in the ecosystem, and providing access to its decentralized AI products. Through its operations, xTAO aims to connect the future of AI with traditional finance, fostering open, permissionless, and borderless AI development.
About Bittensor:
Bittensor is a decentralized network that combines blockchain technology and artificial intelligence to create a peer-to-peer marketplace for machine intelligence. It allows individuals and organizations to contribute their computational resources and AI models, incentivizing collaboration and innovation through its native TAO token. Bittensor aims to democratize AI development, moving away from centralized control and fostering a global, collaborative environment for AI.
About Digital Currency Group (DCG):
Digital Currency Group (DCG) is a venture capital firm that builds and supports Bitcoin and blockchain companies. Founded in 2015 by Barry Silbert, DCG is a leading investor in the digital currency market, with a mission to accelerate the development of a more efficient financial system by leveraging its insights, network, and access to capital.
About Animoca Brands:
Animoca Brands is a global leader in digital entertainment, blockchain, and gamification. With a focus on advancing digital property rights and contributing to the open metaverse, Animoca Brands invests in and builds a broad portfolio of Web3 projects, including games, NFTs, and infrastructure tools.
Compiled by CMO Intern team
