在传统的云计算市场的背景下以集中巨头主导

Aethir正在使用其分散的GPU计算功率网络重建基础架构的分布逻辑。

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.

以在传统的云计算市场的背景下，以众化的GPU计算能力网络将重建基础架构的分布逻辑，以集中式巨头主导。该项目起源于2023年，将全球闲置的GPU资源整合到可编程的计算市场中，通过代币经济学，在两年内实现了从协议设计到商业实施的完整封闭环节。它的发育轨迹不仅揭示了迪地登录（分散的物理基础设施网络）的爆炸潜力，而且还展示了区块链和人工智能融合产生的化学反应。

Capital layout and technical verification in the resource integration phase.

资源整合阶段中的资本布局和技术验证。

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900万美元前一轮融资的完成意义重大。诸如Hashkey Capital之类的投资者的选择反映了市场对分散计算能力的长期乐观情绪，而资金方向则阐明了Aethir的差异性路径，而不是一般的云计算，而是在GPU密集型场景上。同年通过与layerzero进行技术合作，通过跨链协议实现了计算功率资源的全链计划，从而为随后的多链部署奠定了基础，从而加强了这种定位。

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.

节点销售的推出标志着网络寒冷开始中的关键转折点。 425,000个GPU容器的分布式部署构成了物理基础。与传统的云服务相比，这种分散的体系结构表明了三倍的优势：能够平滑区域计算功率短缺，硬件异质性的兼容性以及边际成本接近零的扩展特性。社区驱动的资源汇总模型已经开始在此阶段展示规模经济。

Economic model iteration and ecological niche construction.

经济模型迭代和生态利基结构。

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年将是Aethir业务逻辑成熟的关键年。与Eigenlayer合作引入了重新制定机制，使传统的GPU提供商可以将硬件资产转换为创收资产。该设计解决了DEPIN网络中早期流动性短缺的疼痛点，同时创建分层的收入结构 - 基础层捕获计算电源租赁费用，协议层捕获了存放奖励，并且应用层共享服务保费。那一年的链接收入超过1.26亿美元，证实了该模型的经济可行性。

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.

多链部署策略在2024年的第四季度取得了重大突破。在通过lyezero实现了ETH，BSC和SOLANA之间的互操作性后，ATH代币的流动性深度增加了300％，增加了交叉链定居点在12秒内受控。这项技术成就为随后在Solana生态系统中的有针对性扩展奠定了基础，并为在各种链上AI应用程序中利用计算能力提供了无缝的体验。

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在建造护城河时的战略思想。这笔4000万美元的投资基金针对GPUFI和AI基础设施，形成了“硬件资源 - 财务工具 - 应用程序方案”的封闭循环。通过与雪崩的1亿美元生态系统基金建立合作伙伴关系，这种垂直整合策略继续在2025年加强，通过资本杠杆来约束高质量的项目各方，以确保计算能力网络需求方面的稳定性。

Application layer penetration and market pricing power competition.

应用层渗透和市场定价功率竞争。

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年的一系列行动表明，Aethir开始争夺设定行业标准的权力。与Xsolla合作的云游戏开发人员计划直接以28％的年增长率直接进入云游戏市场，而100万美元的资金实质上是对游戏发动机制造商的技术收购。与SuperNet的合作通过提供集成的培训和推理服务，占据了AI + depin的中间件层，可以在AI代理轨道中定位。

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.

交换布局策略也很重要。从二级市场流动性的角度来看，Coinbase和Binance的双重上市是价值锚，而Binance永久合同的启动则吸引了对冲需求。值得注意的是，ATH的交流清单的节奏与项目里程碑高度协调 - 每个技术突破或生态合作都不可避免地是在三个月内开设新交易渠道的，该计划的流动性释放有效地支持令牌估值。

The network effects behind the data.

数据背后的网络影响。

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.

在行业坐标系中，需要查看598,068,090个计算时间的交付量。这个数字等于一年的计算输出3,000个A100 GPU不间断，但是Aethir网络实际上利用了80,000多种异质GPU的动态调度。资源利用率的增加源于其最初的任务碎片算法，该算法将大型模型培训（例如大型模型培训）分解为跨地区执行的微型培训。

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-

节点的地理分布显示出分散的特征。 95个国家 /地区的覆盖范围不仅避免了单点监管风险，而且还可以实现计算潜伏期优化的。东南亚节点主要响应游戏渲染需求，北美节点执行AI推断任务，西欧节点流程流程财务建模 -