Bittensor (TAO) rose about 12.8% in the week to 8 September 2026. CoinGecko's daily snapshot put it at $230.28 on 1 September and $259.74 on 8 September (both 00:00 UTC). Market capitalisation went from $2.21 billion to $2.49 billion over the same week. Even after the rise, TAO was about 66% below its all-time high of $757.60, set on 7 March 2024. The week's gain has since reversed. On 25 October 2026 at 08:07 UTC, CoinGecko showed $248.70, down 7.0% over seven days and 16.6% over thirty.
All price, market-cap and volume figures here are from CoinGecko.
The week in numbers
| Measure (CoinGecko, 00:00 UTC) | 1 Sep 2026 | 8 Sep 2026 |
|---|---|---|
| Price | $230.28 | $259.74 |
| Market cap | $2.21B | $2.49B |
| 24h trading volume, all venues | $114.4M | $289.0M |
Trading volume roughly 2.5x'd while the price rose, so the move came with more trading, not on thin turnover. A daily snapshot gives one price per day, so it does not show the highs and lows inside the week.
Where TAO stands now (25 October 2026)
- Price: $248.70, about 4% below the 8 September snapshot.
- Change: -7.0% over seven days, -16.6% over thirty days.
- Market cap: $2.82 billion, rank #37 on CoinGecko.
- Circulating supply: about 11.34 million TAO out of a 21 million maximum.
- Distance from the record: about 67% below $757.60 (7 March 2024).
What is a day of new TAO worth?
Choose the emission per block and a TAO price to see the dollar value of one day of new TAO supply.
| Blocks produced per day | New TAO issued per block | TAO price | Value of one day of new TAO |
|---|---|---|---|
| 7,200 blocks | 0.5 TAO | 248.7 USD | 895,320 USD |
| 7,200 blocks | 0.5 TAO | 259.74 USD | 935,064 USD |
| 7,200 blocks | 0.25 TAO | 248.7 USD | 447,660 USD |
- At 7,200 blocks and 0.5 TAO per block, about 3,600 new TAO enter circulation each day; the price input only turns that amount into dollars.
- Registration fees recycle TAO, so the date of the next halving is not fixed and cannot be read from this calculator.
This multiplies your inputs only: it does not show who receives the new TAO, how it splits across subnets, alpha pool prices, or where the TAO price will go, and it is not investment advice.
What drives new TAO supply
Bittensor's supply schedule matters for anyone following the token, because new issuance is constant and readers can calculate it.
- Hard cap of 21 million TAO. According to the Learn Bittensor documentation, halvings are triggered by total issuance, not by a fixed block count. Emission halves each time half of the remaining supply has been issued.
- First halving: December 2025. Emission fell from 1 TAO to 0.5 TAO per block once 10.5 million TAO had been issued. The next cut, to 0.25 TAO, comes at 15.75 million. The documentation says no halving date is fixed, and TAO recycled through registration fees pushes the next halving further out.
- Daily issuance today. The chain produces one block every 12 seconds, or 7,200 blocks a day. At 0.5 TAO per block, that is about 3,600 new TAO a day. At the 25 October price, that is roughly $0.9 million of new supply every day.
Where the new TAO goes
Since the Dynamic TAO (dTAO) upgrade in February 2025, every Bittensor subnet has its own token, called alpha, traded against TAO in that subnet's pool. Staking TAO into a subnet swaps it into that subnet's alpha at the pool price, and unstaking swaps it back. Alpha on one subnet is not interchangeable with alpha on another.
The official documentation describes two allocation steps:
- Across subnets. Each block, TAO emission is shared out by each eligible subnet's moving-average price, which stands in for demand. That share is then adjusted, and an emission gate cuts the share of weak subnets.
- Within a subnet. The default split per tempo is 18% to the subnet owner, 41% to miners and 41% to validators and their stakers. A tempo defaults to 360 blocks, about 72 minutes. Subnet owners can change the split within bounds: miners get no less than 33%, and validators and stakers no more than 50%.
In practice, the TAO price is only part of the picture. TAO holders who stake are exposed to alpha pool prices as well as TAO itself, and subnets compete for a shrinking stream of new tokens.
How to read a week like this
- A 12.8% weekly gain on a token 66% below its peak says little about the longer trend. By late October the 30-day change was -16.6%.
- Rising volume alongside a rising price is worth noting, but one week's volume does not show who was buying.
- Supply, unlike sentiment, follows published rules. Because halvings are set by total issuance, the timing of the next one shifts with recycling and registration activity rather than following a calendar.
