Numerai's Third Strategic Buyback of NMR
Numerai has purchased an additional $1.2 million worth of NMR from the open market, bringing total buybacks to $3.2 million worth of NMR in under one year.
How NMR Powers Numerai
Numerai relies on a decentralized network of contributors building machine learning models to predict the stock market. Contributors stake NMR on their models, earning additional NMR when their predictions perform well on future market data and losing it when they don't.
That staking mechanism gives every participant skin in the game. Rather than rewarding models that simply fit historical data, it rewards contributors who improve Numerai’s Stake-Weighted Meta Model–the model that combines thousands of independent predictions into a single signal for Numerai’s hedge fund.
Today, more than 1.1 million NMR is staked on Numerai, and the results continue to validate this approach. Numerai's Stake-Weighted Meta Model continues to outperform Numerai's internal benchmark models, demonstrating the value of aligning thousands of independent contributors around a common objective.
A Growing Network
Active accounts have more than doubled over the past year, submissions continue to increase, and Numerai’s tournament continues to evolve with the introduction of Numerai Skills, Numerai MCP, and Atomic Blockchain Staking.
As participation has grown, so has the fund itself. Numerai now manages approximately $700 million in assets, up from approximately $560 million at the end of 2025, and continues to trade more than $1 billion per month across 30 global markets.
Replenishing the Treasury
The reason for buying back NMR hasn't changed since our first strategic buyback last year.
NMR has a strict fixed-supply cap of 11 million tokens. Because Numerai rewards contributors with NMR from its treasury, that treasury is continually drawn down through staking rewards and tournament payouts. Today, approximately 3.1 million NMR remains in Numerai's treasury. As the network grows and more contributors earn NMR for improving the Meta Model, replenishing the treasury remains essential to sustaining Numerai's incentive system over the long term.
Last July, Numerai announced its first strategic buyback of NMR. In February, we completed a second purchase of $1 million. Today's $1.2 million purchase brings Numerai's total buybacks to $3.2 million in under one year.
Like our previous buybacks, NMR was purchased on the open market and was facilitated through Coinbase Institutional at or near bid price over several weeks to minimize market impact. Unlike previous announcements, this buyback has already been completed ahead of today's announcement.
Why This Matters
One year ago, we said that NMR was essential to Numerai's future. That hasn't changed.
The network is larger. The fund is larger. More intelligence is contributing than ever before. As Numerai enters its next phase of growth, the incentive system that powers the network remains the same.
Past performance is not indicative of future results. This content does not represent an offer to purchase or sell any security or the interests of any account managed by Numerai GP, LLC or its affiliates. Such an offer may only be made to persons who qualify to invest and in jurisdictions in which such an offer is legal.
