Company Update
Pearl aims for useful AI mining and raises $55M equity
Pearl’s network proposes duplex mining where GPU matrix multiplication serves AI workloads and earns block rewards. An upcoming FP8 hard fork will enable standard AI model formats on Nvidia Hopper and Blackwell chips. On October 7 Pearl was named a launch provider for the Liquid Inference marketplace. The lab closed a $55 million equity round and a $75 million vehicle on October 25 to build GPU capacity. Critics note potential centralization and lack of token‑holding transparency, but the raise is cash for shares. Pearl’s hash rate is ~73 EH/s, up from August, and the project seeks to increase real AI work share to improve security and value.