PANews reported on June 9 that according to Businesswire, Nasdaq-listed IT solution technology service provider Oblong, Inc. announced that it has raised approximately US$7.5 million through private placement to launch its artificial intelligence and digital asset strategy centered on Bittensor. The private placement will sell 1,989,392 shares of common stock at US$3.77 per share and is expected to be completed on June 11, 2025.

Oblong plans to use most of the funds to purchase Bittensor's native token $TAO and support the development of its decentralized AI network, including the construction of open markets such as computing, reasoning, data and model training. The company will also develop software tools in the Bittensor ecosystem and participate in Subnet 0 to obtain $TAO revenue.