The end of the year is a great time to reflect on and celebrate key milestones from the past 12 months. In 2024,io.net charged ahead in our mission to transform how machine learning engineers in startups and enterprises access affordable, enterprise-grade cloud clusters. Our rapidly expanding network of distributed GPU suppliers has made it easy and affordable to tap into high-performance computing without leaning on expensive centralized services.
If compute is this generation’s ‘digital oil’ whoever supplies the most affordable compute will lead the AI revolution. Our vision is for $IO to become the currency of compute that underpins an entire ecosystem of products and services. Our goal is to make compute not only a resource, but also a valuable asset — one that GPU suppliers can monetize effectively and organizations can access on demand without prohibitive costs or centralization bottlenecks.
In 2024, there was notable advancement in the field of AI with the establishment of a decentralized network comprising more than 300,000 verified GPUs from 139 countries, with 6,000 of them ready to cluster, creating the largest Decentralized Physical Infrastructure Network (DePIN) dedicated to AI. This massive global pool of computing power is fueled by idle or under utilized GPUs, allowing owners to optimize their revenue while ensuring AI and ML developers can scale their applications quickly and cost-effectively. When io.net wins, GPU suppliers win, developers win, and ultimately, users win.
Now let’s take a quick tour of what we achieved in 2024 before looking ahead at what 2025 has in store.
io.net: Major Milestones in 2024
Series A Funding: Secured
Last Spring we secured $30 million in a Series A funding round from a roster of leading investors, including Hack VC, Solana Labs, and OKX. The backing of these leading VCs shows the surge in demand for GPU-based compute power in AI and crypto markets is accelerating. This infusion of capital will let us staff up, meet growing service demands and help us outpace the rest of the decentralized AI infrastructure competition.
Successful $IO Token Generation Event Shortly after the fund raise, we celebrated the successful launch of the $IO Token Generation Event (TGE) by The Foundation. The launch of the native token $IO as Binance’s Launchpool’s 55th project marked the start of a new era for io.net. Today, $IO is listed on several global trading venues. The successful execution of the TGE by The Foundation has primed us for growth in 2025, provided liquidity to early supporters, and built a foundation for broader adoption as demand for compute as a tradable asset continues to grow into 2025.
Revenue Growth
As interest in AI infrastructure grew throughout 2024, so did io.net’s Total Network Earnings (TNE). By November 2024, we reached an annualized TNE of $18.4M, fueled by 59.6% month-over-month growth. Daily TNE offers a closer glimpse of that momentum: it surged from $6.9K in September to over $36K in November, ultimately exceeding $50K a day — translating to over $1 million a month and establishing io.net as one of the leaders in decentralized network earnings.
Strategic Partnerships
Over the course of 2025, io.net partnered to provide decentralized compute to 73 up-and-coming partners, and many more are on the way. Lets look at a few of the most exciting: Leonardo.ai and KREA are bleeding-edge AI image and video generation platforms with advanced tools that let users create visual designs and motion graphics from simple text inputs. Leonardo.ai ’s community of four million users will get compute from io.net ’s NVIDIA A100 and L40S GPU clusters, and KREA will use the A100 clusters at 70% less cost than the average market rate. io.net ’s clusters of nearly 8000 decentralized NVIDIA GPUs are highly sought after and state-of-the-art for generative AI and large language model (LLM) inference. Zerebro , built by blockchain and AI developer Jeffy Yu, is an autonomous AI agent that can post on social media, perform blockchain actions, generate artwork and music, and learn from past experiences. Zerebro also runs an Ethereum validator now powered by io.net’s decentralized compute. Finally, Creator.Bid is an AI agent hub on Base that lets creators tokenize and launch AI agents that can autonomously create content, and participate in community engagement on social media platforms. io.net ’s DePIN GPU clusters now power Creator.Bid’s operations.
As agentic development ramps up in 2025, the demand for cheap, decentralized compute will be a bottleneck for anyone that needs to process data or train models. With over 7k cluster ready GPUs and CPUs from 139 countries, io.net ’s DePIN is ready and waiting to meet that demand.
Tech Innovation
In 2024, io.net deployed several key upgrades to our tech stack. We brought platform reliability to over 99% cluster stability and reduced cluster creation time to under 1.5 minutes. io.net
Community Rising
io.net’s community really came to life in 2024, with October seeing 46 million impressions across social media, a 59% rise from September. Both Discord and Telegram communities grew to over 500,000 members who are active and sharing good vibes, connecting with one another, asking questions and getting support. We also organized over 50 global events, from hackathons to workshops, meatspace community members sentiment and engagement with io.net.
2025 And Beyond
With 2024 in the rear view, our sights are set on driving 2025 and leaning into our strengths with the upcoming launch of the IO Intelligence MVP, providing advanced predictive analytics for business decision-making. We also have many more exciting partnerships to announce, and will scale beyond 100 by the end of 2025, cementing our footholds in any sector that needs high-performance, cost-effective GPU compute — from biotech to gaming, from Web2 to Web3.
While our traction in 2024 has been strongest in Web3, thanks to the rapid pace of innovation and faster decision-making, our infrastructure is equally suited for AI/ML workloads across traditional industries and emerging technology ecosystems alike.
We invite the retail, AI/ML startups, and enterprises to join us in making io.net the leader in the decentralized compute space. Together, we can bring advanced computing capabilities to developers, agents, and the forefront of the emerging digital economy.
