In a series of tweets posted on Friday, Kevin Bradley, who also goes by the nickname “nitoTV,” mentioned that while there are no guarantees at this time, chances are there will be a jailbreak for tvOS 10.1 in the near future. In preparation for this event, nitoTV recommends that you either restore or downgrade to tvOS 10.1.
Little is known about the upcoming tvOS 10.1 jailbreak, but Bradley told iDB that Luca Todesco's 'yalu102' jailbreak can be adapted to accommodate tvOS. 
The company Apple released tvOS 10.1.1 last week and, depending on the settings, your device Apple TV may have automatically updated to the new firmware version. Due to the fact that the company Apple is still signing the 'tvOS 10.1' firmware, it is still possible to downgrade the firmware to the previous version. Likewise, if your device 'Apple TV' is still running an even older version, then it is possible to update the device firmware to version 'tvOS 10.1'. To recover to 'tvOS 10.1' version, you need to download this firmware version first and install it according to this simple procedure.
Although the jailbreak was released last year by the 'Pangu Team', the device 'Apple TV' has been largely ignored by the jailbreak community. And this is understandable why. The size of the device market is several times smaller than the market iOS of devices, so all the efforts of hackers are concentrated on getting a bigger piece of the pie. As nitoTV rightly pointed out, if not for his dedication to the device 'Apple TV', we users would be left with nothing at all.
We repeat once again that there are no ironclad guarantees, but it is gratifying to hear that in general something is happening in this direction.