The case for a $1 trillion-plus Bittensor ecosystem by 2030

Stillcore Capital lays out a scenario in which Bittensor’s AI subnets form a $1 trillion-plus ecosystem by 2030, not a forecast. As of September 2026, it estimated outside customers paid the subnets $50 million to $65 million a year; most of that revenue was paid off-chain and reported by the teams. At 40 times revenue, a $1 trillion valuation would require about $25 billion annually by 2030. Stillcore and its funds hold TAO and subnet tokens.