Oblong, a listed company, raises $7.5 million to expand into the Bittensor ecosystem, with the majority of the funds going towards purchasing TAO According to Businesswire, Oblong, Inc., an IT solution technology service provider listed on NASDAQ, announced a private placement of approximately $7.5 million to launch an artificial intelligence and digital asset strategy centered around Bittensor. This private placement is selling 1989392 ordinary shares at a price of $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 for computation, inference, data, and model training. The company will also develop software tools in the Bittensor ecosystem and participate in Subnet 0 to generate TAO revenue.