Institutional interest in Bittensor continues to deepen as Off the Chain Capital has committed US$7.3 million to xTAO Inc. (TSXV: XTAO.U), a publicly listed company building infrastructure and validator operations for the decentralized intelligence network.
The investment, executed through a non-brokered private placement of 9.48 million pre-funded warrants at US$0.77 each, will increase xTAO’s TAO holdings by roughly 41.5%. On a per-share basis, this translates to a 6.2% increase in TAO exposure, further cementing xTAO’s role as the largest publicly traded holder of Bittensor’s native token ($TAO).
The financing comes exclusively from Off the Chain Capital — a long-term crypto investment firm known for its focus on digital assets with durable network value. The transaction is expected to close during the week of November 10, 2025, pending customary approvals from the TSX Venture Exchange.
“We believe Bittensor represents one of the most important open-source networks of our time,” said Brian Estes, Chief Investment Officer at Off the Chain Capital. “xTAO is building the institutional bridge into decentralized intelligence, and this investment reflects our conviction in both the Company and the future of Bittensor.”
The funds will be used to expand validator operations and grow xTAO’s TAO treasury, strengthening its yield-generating footprint across the Bittensor network. The company’s primary validator is currently ranked among the top three by yield, according to taoyield.com data.
“This financing is immediately accretive to shareholders on a TAO-per-share basis,” said Karia Samaroo, CEO of xTAO Inc. “Off the Chain has been a long-term supporter, and this deal underscores our shared belief that Bittensor will define the next era of decentralized compute.”
The agreement carries a 9.99% beneficial ownership cap, ensuring that warrant conversions do not exceed the stated ownership threshold. No broker fees or commissions were paid in connection with the raise.
This investment reinforces the narrative of growing institutional participation in decentralized networks, with Bittensor emerging as a core infrastructure layer for open, permissionless intelligence.
For more information, visit www.xtao.co.
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