Tiger Royalties and Investments PLC (LSE:TIR) shares rose 22% on Tuesday after the company announced it had secured a second subnet on the Bittensor blockchain, expanding its exposure to decentralised artificial intelligence infrastructure.
A subnet is a self-contained application layer that runs on top of the core Bittensor network, which is essentially a peer-to-peer marketplace for AI. Each subnet operates independently, creating its own token and reward mechanisms to attract developers and miners who contribute computing power.
AIM-listed Tiger said it paid $25,000 for the new subnet, named Tiger Beta, which follows the earlier launch of Tiger Alpha. Subnets on Bittensor act as standalone ecosystems with their own tokens and reward structures, designed to incentivise network participation.
Tiger Alpha has grown to generate over 15 TAO tokens per day in emissions, the equivalent of about $144,000 in monthly revenue at current market prices. TAO is Bittensor’s native token, with a market capitalisation of around $2.7 billion.
Tiger earns revenues both from TAO block rewards and from transaction fees and emissions on its subnets. It said the acquisition further supports its wider TAO strategy, which also includes a recent investment in Tao Strategies.
Tiger Alpha and Beta tokens are capped at 21 million, mirroring TAO’s fixed supply.
The shares rose 0.094p to 0.52p.