Bittensor has increased the cost to register a new subnet from 230 TAO to 1,500 TAO, a 6.5-fold rise valuing each slot at about $470,000. This surge is driven by high demand for limited subnet slots, with 73% of TAO tokens staked and a capped network capacity of 128 active subnets. The price is set by a dynamic algorithm that doubles with each registration and slowly decreases if slots remain unclaimed. Following a halving event that cut new TAO emissions in half, the supply has tightened further, concentrating subnet ownership among well-funded operators. Bittensor plans to double subnet capacity to 256, which may ease the bottleneck in the future.
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