55th mining io.net DEPIN project estimated to reach $1 billion

IO. net Project Analysis # io. net # 55th New Currency Mining IO

Project background

Io.net is a decentralized computing network that builds a bilateral market around chips. The supply side includes globally distributed GPUs, CPUs, and Apple's iGPUs and other computing resources, while the demand side is artificial intelligence engineers who hope to complete AI model training or inference tasks. The mission of io.net is to integrate millions of GPUs into its decentralized physical infrastructure network (DePIN).

Origin and Development

The core team of io.net initially focused on developing quantitative trading systems. Before June 2022, the team will primarily develop institutional level quantitative trading systems for the stock and crypto asset markets. Due to the demand for computing power in the backend of the system, the team began to explore the possibility of decentralized computing and ultimately focused on reducing the cost of GPU computing services.

Financing situation

Seed round financing: Completed $10 million in May 2023.

Series A financing: In March 2024, a total of 30 million US dollars was completed, with a valuation of 1 billion US dollars. Investors include Hack VC, Multicoin Capital, and others.

Core advantages

Low cost computing resources: By integrating global GPU resources, computing costs are reduced.

Multiple computing tasks support: including batch inference, parallel training, hyperparameter adjustment, and reinforcement learning.

Decentralized physical infrastructure: ensuring high availability and flexibility.

Strong financing and support: Obtaining support from multiple top investment institutions.

With its innovative technology and strong support, io.net is expected to become a leading project in the AI+DePIN concept.