Today, we're releasing the first SubConnect Bittensor Revenue Index. Over the past months, we've been researching one of the most important, yet surprisingly difficult questions to answer within Bittensor: Which $TAO subnets are actually generating revenue? How much and are they doing revenue generated Alpha buys? The results show an ecosystem that is further into commercialization than many realize. Bittensor's first chapter was about proving decentralized competition could produce valuable intelligence. The next chapter is about turning that intelligence into products customers are willing to pay for. And as more of that external revenue flows back into Alpha, the economics of the network begin to change with it. From emissions to revenue, the transition has begun. ↓ The SubConnect Bittensor Revenue Index: Volume I

We covered Engy, $TAO SN53, in our Bittensor Revenue Index, but at the time the subnet had only been operational for a couple of weeks. The numbers simply didn't do the opportunity justice yet, so it's due for an update. Over the past month, and especially over the last couple of days, Engy has shown consistent growth in both token requests and revenue-funded buys and burns of its Alpha token (see images). The latest update from the team is that Engy reached a $10K revenue day for the first time on September 21st. And as @algodtrading explained: it's only one day, but thats how it always starts. That's the important part if you ask us. It gives investors perspective on both where Engy is today and where it could be heading. Sustain the current level and you're looking at roughly $4M in annualized revenue. Continue the growth trajectory and things get really interesting. On top of that, a new batch of US-based B300s is expected to come online as additional miner hardware in roughly three weeks, with the team reportedly already having customers lined up for that capacity. As always, we want to see that translate into actual token demand and revenue-funded buys on-chain. But so far, many of the things the team has talked about have subsequently become reality. Based on the current trajectory and the additional mining capacity coming online, Engy is becoming a real contender to become one of the largest revenue generating subnets on Bittensor. And we're all for some healthy competition for that #1 revenue generating subnet crown.