在傳統的雲計算市場的背景下以集中巨頭主導

Aethir正在使用其分散的GPU計算功率網絡重建基礎架構的分佈邏輯。

Aether is reconstructing the distribution logic of infrastructure with its decentralized GPU computing power network, against the backdrop of traditional cloud computing markets dominated by centralized giants. Originating in 2023, this project integrates global idle GPU resources into a programmable computing market through token economics, achieving a complete closed loop from protocol design to commercial implementation within two years. Its development trajectory not only reveals the explosive potential of the DePIN (Decentralized Physical Infrastructure Network) track but also showcases the chemical reaction produced by the fusion of blockchain and artificial intelligence.

以在傳統的雲計算市場的背景下，以眾化的GPU計算能力網絡將重建基礎架構的分佈邏輯，以集中式巨頭主導。該項目起源於2023年，將全球閒置的GPU資源整合到可編程的計算市場中，通過代幣經濟學，在兩年內實現了從協議設計到商業實施的完整封閉環節。它的發育軌跡不僅揭示了迪地登錄（分散的物理基礎設施網絡）的爆炸潛力，而且還展示了區塊鍊和人工智能融合產生的化學反應。

Capital layout and technical verification in the resource integration phase.

資源整合階段中的資本佈局和技術驗證。

The completion of the $9 million Pre-A round financing in July 2023 is strategically significant. The choice of investors such as HashKey Capital reflects the market's long-term optimism for decentralized computing power, while the funding direction clarifies Aethir's differentiated path- focusing not on general cloud computing but on GPU-intensive scenarios. This positioning was reinforced in the same year through a technical collaboration with LayerZero, achieving full-chain scheduling of computing power resources through cross-chain protocols, laying the groundwork for subsequent multi-chain deployment.

2023年7月的900萬美元前一輪融資的完成意義重大。諸如Hashkey Capital之類的投資者的選擇反映了市場對分散計算能力的長期樂觀情緒，而資金方向則闡明了Aethir的差異性路徑，而不是一般的雲計算，而是在GPU密集型場景上。同年通過與layerzero進行技術合作，通過跨鏈協議實現了計算功率資源的全鏈計劃，從而為隨後的多鏈部署奠定了基礎，從而加強了這種定位。

The launch of node sales marks a critical turning point in the network's cold start. The distributed deployment of 425,000 GPU containers forms a physical foundation. This decentralized architecture demonstrates threefold advantages compared to traditional cloud services: the ability to smooth out regional computing power shortages, the compatibility of hardware heterogeneity, and the expansion characteristics with marginal costs approaching zero. The community-driven resource aggregation model has already begun to show economies of scale at this stage.

節點銷售的推出標誌著網絡寒冷開始中的關鍵轉折點。 425,000個GPU容器的分佈式部署構成了物理基礎。與傳統的雲服務相比，這種分散的體系結構表明了三倍的優勢：能夠平滑區域計算功率短缺，硬件異質性的兼容性以及邊際成本接近零的擴展特性。社區驅動的資源匯總模型已經開始在此階段展示規模經濟。

Economic model iteration and ecological niche construction.

經濟模型迭代和生態利基結構。

2024 will be a key year for the maturation of Aethir's business logic. Collaboration with EigenLayer introduces a re-staking mechanism, allowing traditional GPU providers to convert hardware assets into income-generating assets. This design addresses the pain point of early liquidity shortages in DePIN networks while creating a layered revenue structure- base layer captures computing power leasing fees, protocol layer captures staking rewards, and application layer shares service premiums. The on-chain revenue exceeding $126 million that year validated the economic feasibility of this model.

2024年將是Aethir業務邏輯成熟的關鍵年。與Eigenlayer合作引入了重新制定機制，使傳統的GPU提供商可以將硬件資產轉換為創收資產。該設計解決了DEPIN網絡中早期流動性短缺的疼痛點，同時創建分層的收入結構 - 基礎層捕獲計算電源租賃費用，協議層捕獲了存放獎勵，並且應用層共享服務保費。那一年的鏈接收入超過1.26億美元，證實了該模型的經濟可行性。

The multi-chain deployment strategy achieved a substantial breakthrough in the fourth quarter of 2024. After achieving interoperability among ETH, BSC, and Solana through LayerZero, the liquidity depth of the ATH token increased by 300%, with cross-chain settlement delays controlled within 12 seconds. This technical achievement lays the foundation for subsequent targeted expansion in the Solana ecosystem and provides a seamless experience for utilizing computing power in various on-chain AI applications.

多鏈部署策略在2024年的第四季度取得了重大突破。在通過lyezero實現了ETH，BSC和SOLANA之間的互操作性後，ATH代幣的流動性深度增加了300％，增加了交叉鏈定居點在12秒內受控。這項技術成就為隨後在Solana生態系統中的有針對性擴展奠定了基礎，並為在各種鏈上AI應用程序中利用計算能力提供了無縫的體驗。

The establishment of the TACOM Fund demonstrates Aethir's strategic thinking in building a moat. The $40 million investment fund is directed towards GPUFi and AI infrastructure, forming a closed loop of "hardware resources - financial tools - application scenarios." This vertical integration strategy continues to be reinforced in 2025 through a partnership with Avalanche's $100 million ecosystem fund, binding high-quality project parties through capital leverage to ensure the stability of the demand side of the computing power network.

TACOM基金的建立表明了Aethir在建造護城河時的戰略思想。這筆4000萬美元的投資基金針對GPUFI和AI基礎設施，形成了“硬件資源 - 財務工具 - 應用程序方案”的封閉循環。通過與雪崩的1億美元生態系統基金建立合作夥伴關係，這種垂直整合策略繼續在2025年加強，通過資本槓桿來約束高質量的項目各方，以確保計算能力網絡需求方面的穩定性。

Application layer penetration and market pricing power competition.

應用層滲透和市場定價功率競爭。

The series of actions in 2025 indicates that Aethir is beginning to compete for the authority to set industry standards. The cloud gaming developer program in collaboration with Xsolla directly taps into the cloud gaming market with an annual growth rate of 28%, and the $1 million funding essentially serves as a technical acquisition for game engine manufacturers. The collaboration with SuperNet positions itself in the AI agent track by providing integrated training and inference services, occupying the middleware layer of AI + DePIN.

2025年的一系列行動表明，Aethir開始爭奪設定行業標準的權力。與Xsolla合作的雲遊戲開發人員計劃直接以28％的年增長率直接進入雲遊戲市場，而100萬美元的資金實質上是對遊戲發動機製造商的技術收購。與SuperNet的合作通過提供集成的培訓和推理服務，佔據了AI + depin的中間件層，可以在AI代理軌道中定位。

The exchange layout strategy is also significant. From the perspective of secondary market liquidity, the dual listing on Coinbase and Binance serves as a value anchor, while the launch of Binance perpetual contracts attracts hedging demands. Notably, the rhythm of ATH's exchange listing is highly coordinated with project milestones- each technical breakthrough or ecological collaboration is inevitably followed by the opening of new trading channels within three months, this planned liquidity release effectively supports token valuation.

交換佈局策略也很重要。從二級市場流動性的角度來看，Coinbase和Binance的雙重上市是價值錨，而Binance永久合同的啟動則吸引了對沖需求。值得注意的是，ATH的交流清單的節奏與項目里程碑高度協調 - 每個技術突破或生態合作都不可避免地是在三個月內開設新交易渠道的，該計劃的流動性釋放有效地支持令牌估值。

The network effects behind the data.

數據背後的網絡影響。

The delivery volume of 598,068,090 computing hours needs to be viewed within the industry coordinate system. This figure is equivalent to the computing output of 3,000 A100 GPUs running nonstop for a year, but the Aethir network actually utilized the dynamic scheduling of over 80,000 heterogeneous GPUs. This increase in resource utilization stems from its original task sharding algorithm, which breaks down long-cycle jobs like large model training into microtasks executed across regions.

在行業坐標系中，需要查看598,068,090個計算時間的交付量。這個數字等於一年的計算輸出3,000個A100 GPU不間斷，但是Aethir網絡實際上利用了80,000多種異質GPU的動態調度。資源利用率的增加源於其最初的任務碎片算法，該算法將大型模型培訓（例如大型模型培訓）分解為跨地區執行的微型培訓。

The geographical distribution of nodes shows a decentralized characteristic. Coverage across 95 countries not only avoids single-point regulatory risks but also achieves computing latency optimization. Southeast Asian nodes primarily respond to gaming rendering needs, North American nodes undertake AI inference tasks, and Western European nodes process financial modeling-

節點的地理分佈顯示出分散的特徵。 95個國家 /地區的覆蓋範圍不僅避免了單點監管風險，而且還可以實現計算潛伏期優化的。東南亞節點主要響應遊戲渲染需求，北美節點執行AI推斷任務，西歐節點流程流程財務建模 -