Bittensor is developing a full-stack intelligence network in which specialized subnets exchange data, compute, storage, pretraining, inference and AI-agent services. Gamma tokens are proposed as transferable usage credits for inter-subnet purchases, potentially funded through part of subnet TAO emissions, while alpha-token mechanics remain unresolved. In August and September 2026, 24 subnets were estimated to generate $28 million to $35 million in annualized external revenue; 14 were using proceeds for alpha-token buybacks. Reported customers include PwC France, Dropbox and an NYSE-listed REIT. Steeves has set December 2027 as the target for shifting control toward stakeholder governance, alongside discussions about expanding capacity to 256 subnet slots.