24th Jun 2025 12:55
(Alliance News) - Tiger Royalties & Investments PLC on Tuesday said it had acquired a second dedicated subnet on the Bittensor blockchain network, run by TAO Alpha PLC.
The London-based investor in "utility" meme coins and natural resources paid USD25,000 for the cryptocurrency infrastructure.
The subnet is called Tiger Beta, and its purchase comes after Tiger Royalties on Wednesday bought its first Bittensor subnet, Tiger Alpha.
Subnets are self-contained digital systems, each of which issue their own tokens, within a larger cryptocurrency trading network. The Bittensor network was developed by London-based technology company TAO Alpha PLC, and its subnet tokens are known as "alphas".
The native currency on Bittensor is the TAO token. As of Tuesday, the TAO has a market capitalisation of about USD2.7 billion, Tiger Royalties said.
Nonetheless, TAO Alpha shares fell 18% to 11.50 pence on Tuesday afternoon in London, for a market capitalisation of GBP49.0 million. Shares in Tiger Royalties were down 11% to 0.38p, for a GBP16.4 million market cap.
Tiger Royalties established the Tiger Alpha token when it acquired its first subnet. Since last Wednesday, the subnet has seen an uptick in trading, issuing around 15 TAO per day. This in turn equals roughly USD4,800 in daily revenue, Tiger Royalties reported.
The company is aiming to secure both its position in the Bittensor network, and its partnership with TAO Strategies, the Singapore-based subsidiary that operates it. Tiger Royalties said its token was staked by Bitcoin miners to earn fees, making it key to network governance.
Tiger Royalties noted the "built-in scarcity" of Alpha currency, each of which has a 21 million token limit, alongside "demand-driven" pricing, since TAO must be swapped into reserve to buy Alpha. The firm added that operating on the network had "dual-revenue potential" given that it earns TAO block rewards plus a share of Tiger Alpha fees.
Chief Executive of Tiger Royalties Jonathon Bixby called Tuesday's purchased a "significant milestone".
"Purchasing a subnet today is like purchasing a building on Fifth Avenue before Manhattan was built up. They are scarce, income-generating assets at the very heart of Bittensor's data economy. Controlling the second Tiger Subnet lets us capture more protocol fees, earn more TAO rewards and steer compute power toward high-value AI services," Bixby asserted.
By Holly Munks, Alliance News reporter
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