As the hype around artificial intelligence (AI) in the cryptocurrency field continues to rise, the cost of registering a subnet on the Bittensor network has skyrocketed to $6.7 million, with a monthly increase of 10,000%. Just last month, the cost of registering a subnet was 100 TAO, or $53,000, but as of yesterday it had reached 10,127 TAO ($6.7 million).

The Bittensor subnet is a specialized network integrated with the Bittensor blockchain, with its own miners and validators, executing unique tasks related to AI. By deploying subnets, projects can receive daily TAO emission allocations and hire a specialized mining community to execute specific tasks specified by the subnet. Whenever a project registers a subnet, the registration cost doubles, and if no one registers, the price will decrease linearly within four days. (DL News)