Aethir (ATH) is a decentralized GPU cloud-computing network, native to Ethereum (mainnet), that provides distributed, on-demand enterprise-grade GPU compute for AI model training and inference and for gaming.
The network is also officially deployed cross-chain on Arbitrum, used for Checker Node NFT and compute-provider operations, and on Solana. Aethir reports having delivered more than 1.5 billion compute hours across over 440,000 GPU containers in 94 countries, using NVIDIA H100/H200/B200/B300 hardware.
Aethir differentiates itself by aggregating idle enterprise-grade GPU capacity from distributed providers into an on-demand network, offering an alternative supply source to centralized cloud compute providers.
The network reported full-year 2025 revenue exceeding $127.8 million and a Q3 2025 annualized run-rate of $166 million, with average monthly revenue near $13 million in July–August 2025. A $100 million ecosystem fund backs more than 50 projects, including over 25 AI-agent initiatives, feeding continued demand for compute paid for and rewarded in ATH.
ATH functions as both a utility and a governance token within the Aethir network.
Holders can stake ATH to receive vote-escrowed veATH, with voting power scaling with both the amount staked and the staking duration; veATH holders vote on protocol upgrades and resource-allocation decisions. ATH is also the reward currency distributed to Checker Nodes and to Edge/Enterprise compute providers for supplying GPU capacity to the network.
Aethir's total and max supply is fixed at 42,000,000,000 ATH, with no additional tokens created beyond this cap. Circulating supply is approximately 20,128,764,593 ATH as of 2026-09-02, near half of total supply.
Of the fixed supply, 56% is allocated to community rewards (6% airdrop, 15% Checker Node rewards, 35% Edge/Enterprise compute-provider rewards), released through linear vesting, with the remaining 44% split among investors, ecosystem, and team. Net circulating supply is effectively non-inflationary, showing a slight contraction rather than growth.
Aethir was founded in 2021, three years before its token launched via a public ICO round in March 2024. The ATH token contract was deployed on 2024-06-05 and listing followed on 2024-06-12 — dates that postdate the project's founding by roughly three years.
Aethir raised funding across multiple rounds, including a $1.8 million seed round (February 2022), a $23 million round (May 2023), and a Pre-A round valuing the company at $150 million, led by Sanctor Capital, HashKey, Merit Circle, and CitizenX, with participation from Maelstrom, Mirana Ventures, and Animoca Brands. Cumulative funding raised totals approximately $140 million.
Aethir's ATH token is minted on Ethereum (mainnet), designated as its official native chain, with the Ethereum contract used across trading platforms.
ATH is also officially deployed cross-chain on Arbitrum, used for Checker Node NFT and compute-provider operations and rewards, and on Solana.
Aethir was founded in 2021 by co-founders Daniel Wang (CEO) and Mark Rydon (Chief Strategy Officer).
Additional named leadership includes Kyle Okamoto as Chief Technology Officer, previously CEO of Ericsson's IoT and Edge Gravity businesses and Chief Network Officer at Verizon Media, and Paul Thind as Chief Revenue Officer, a former general manager at Disney's VMK. Backers include Sanctor Capital, HashKey, Merit Circle, CitizenX, Maelstrom, Mirana Ventures, and Animoca Brands.
Aethir, operating under the brand Aethir Cloud, is the entity that develops and maintains the decentralized GPU cloud-computing network, headquartered in Singapore.
Protocol governance is formally overseen by the Aethir Foundation under its published governance bylaws, separating day-to-day network operation from the Foundation's oversight role.
Aethir uses on-chain governance in which ATH holders stake tokens to receive vote-escrowed veATH, with voting power proportional to both the amount and the duration staked.
Governance is structured around three stakeholder classes — Compute Providers, Checkers, and ATH Token Holders — each electing representatives to a governance Council. Proposals pass through a preliminary "Temperature Check" before formal voting; reward-impacting proposals require a super-majority quorum, while protocol- or stake-base-impacting proposals require a standard quorum. The Aethir Foundation formally oversees the framework.
In July 2026, Aethir expanded its "Aethir Mesh" AI-model access layer to add direct API access to DeepSeek V4 and Kimi K2.6. Inference for these models runs partly on Aethir's own decentralized GPU network.
A major mainnet upgrade targeting performance and scalability has been announced for Q4 2026. Aethir has also launched an "ACCELERATE" initiative aiming for up to $2 billion in US/European GPU compute contracts, reported to have 10 sites in development with up to 20MW of capacity as of early September 2026.
Aethir's cross-chain bridge contract was exploited around 2026-04-10, with losses ultimately limited to under $90,000. The team disconnected the compromised contracts and worked with exchanges to blacklist the attacker's wallets, and the main ATH token supply on Ethereum was unaffected, with a compensation plan announced for affected users.
Holder concentration is notable: the top 10 addresses hold 76% of supply and the top 100 hold 86%. On-chain liquidity relative to market capitalization is also thin, a structural risk factor for a token of this size.