TaoWeave (NASDAQ:TWAV) shares are trading lower in after-hours trading Monday.
TWAV shares fell 14.6% to $1.35 in after-hours trading after the company reported first-quarter 2026 financial results and detailed its Bittensor-focused digital asset treasury strategy.
The company focuses on the Bittensor ecosystem and holds Bittensor (CRYPTO: TAO) tokens as its primary treasury asset.
TAO Holdings Boost Earnings
TaoWeave reported first-quarter net income of $1.7 million, compared with a net loss of $672,000 in the prior-year quarter. The company said results were driven primarily by a $2.2 million unrealized gain tied to appreciation in its TAO holdings.
Revenue increased 14% year-over-year to $707,000, while the company generated $86,000 in TAO staking revenue during the quarter.
As of March 31, TaoWeave held approximately 23,557 TAO tokens valued at roughly $7.2 million. The company said total …