XNET Signal

So where do carriers fight back without burning cash? Indoors, where 70 to 80% of mobile data is used. A new tower can run over $1M and take months or years of permits. An indoor antenna system costs $250k to $2M+ per building. Or they can use the Wi-Fi that’s already there no?

Whats interesting is that SpaceX doesn’t have to win. On rough numbers, if it took 5% of phone customers and pushed prices down $3 a month for everyone else, the big three would lose about $19B a year. That’s close to 40% of their network budgets.

SpaceX is worth about $2 trillion. AT&T, Verizon and T-Mobile together are worth less than a quarter of that. And as of Thursday, the FCC is clearing a path for it to sell you a phone plan. So how worried should the carriers be? I dug into the numbers 🧵 $T $TMUS $VZ

I think the most underrated change at @XNET_Mobile this year has nothing to do with the token price. Big operators can now choose to get paid in dollars instead of XNET. It sounds like a small thing but I don't think it is 🧵 #DePIN

Option two is exactly what $XNET does. It pulls Wi-Fi in malls, bars, stadiums and hotels into one network carriers can plug into. AT&T customers already roam onto it. 197 TB carried in May 2026, 14x January 2025. Projected offload revenue last quarter was up 7.1x on the year.

So if you're a carrier, you need capacity without the price tag. Option one, build. Find a site, lease it, permits, fibre, power, radios. Months to years, all paid upfront. Option two is the Wi-Fi already inside the building. Phones hop on automatically and you pay per GB.

You can see it in Verizon's books. 2021, interest bill of $3.5B. About a sixth of what it spent on the network. 2024, interest bill of $6.6B. Close to two fifths. And AI is chasing the same investors. Goldman puts AI-related bond sales at $489B so far this year.

Then there's the cost of money. 4G and 5G were both built when borrowing was cheap. The 10-year Treasury yield averaged 2.5% during the 4G rollout and 1.9% during 5G. In 2020 it dipped below 1%. On 7 Oct it hit 5.35%. That's the highest it's been since 2002. CapEx cost 📈

SpaceX just bought nationwide low-band spectrum and the big three carriers dropped 5 to 7% after hours. Everyone's asking if AT&T and Verizon are in trouble. The better question is where they find the capacity to fight back, because the numbers are ugly 🧵 $XNET #DePIN

Hi everyone, this is XNET Signal 📡 A community-run and data oriented page tracking the growth of the $XNET protocol, plus #DePIN and the telecom and Wi-Fi industry. Start here. XNET’s Wi-Fi offload revenue has grown eight quarters in a row 🧵