Bittensor (TAO) has rallied over 100% in March 2026, rising from roughly $180 to above $330 as its subnet ecosystem expands.
The decentralized AI protocol’s subnet count climbed from around 80 to over 120 in the past year. According to CoinGecko data, the Bittensor Subnets category now has a combined market capitalization of over $1.4 billion.
Nearly all tracked subnet tokens posted positive monthly returns. Three subnets are drawing outsized attention from industry heavyweights.
During an appearance on the All-In Podcast, NVIDIA CEO Jensen Huang referenced the protocol’s Covenant-72B model. Subnet 3 (Templar) trained the model in a fully permissionless decentralized way.
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Meanwhile, Subnet Chutes (SN64) is also seeing record activity. It recently reached a new all-time high in revenue, reportedly generating $22,000 per day.
Lastly, Manifold Labs, the team behind the Bittensor-based compute platform Targon, has collaborated with Intel to release a technical white paper titled “Decentralized Compute on Untrusted Hardware Using Intel® TDX and Encrypted CVMs.”
“The proposed system offers enhanced security assurances, transparent cost structures, and democratized access to enterprise-grade secure compute capabilities, paving the way for a more open, secure, and equitable foundation for next-generation AI development,” the paper reads.
Thus, Bittensor’s March rally reflects a network moving beyond speculation. With NVIDIA’s CEO referencing its AI models, subnets generating real revenue, and Intel collaboration, TAO’s ecosystem seems to be attracting institutional validation.
