xTAO has announced an expansion of its holdings in Bittensor tokens, becoming the largest corporate holder of this token. This event underscores the growing interest in the intersection between artificial intelligence and blockchain.
Who is xTAO?
xTAO revealed that it holds a total of 41,538 Bittensor (TAO) tokens, making it the largest corporate holder of this AI-focused token.
Company's Future Plans
According to xTAO, they plan to use their TAO assets to expand their validator activities and aim for an annual yield of 10% on staked tokens. CEO Karia Samaroo stated: "The TAO treasury gives us immediate economic exposure to Bittensor and the fuel to stand up validators that generate reliable revenue."
Market Status of Bittensor and TAO Tokens
xTAO also reported having substantial cash reserves, which enable it to further expand its TAO holdings. As of now, the TAO token is trading at $371.90 after a correction from the monthly high of $459.73 and is down 51% from its all-time high in April 2024.
xTAO's announcement regarding the increase in its Bittensor token holdings and plans for further expansion confirms the interest of companies in merging artificial intelligence and blockchain infrastructure.
