Odaily reports: The University of Oregon blockchain group Dorm DAO has published a research report recommending a full-position buy of AI mining project Pearl (PEARL), with a target price of $2.5 to $3. The project currently has a market cap of approximately $531 million.
The report notes that Pearl is a Layer 1 public chain adopting a "Proof of Useful Work" (PoUW) mechanism, replacing traditional PoW computation with matrix multiplication, enabling GPUs to participate in network security maintenance and earn token rewards while performing AI tasks. The fund believes that potential listings on Coinbase and Kraken, the FP8 kernel upgrade, and the AI compute narrative are its main growth catalysts.
However, the report also cautions that currently less than 1% of blocks involve real AI tasks, and the token supply is expected to grow by approximately 86% next year. Additionally, the approximately 122 million tokens produced within the first 6 days of mainnet launch have not had their team's internal holdings disclosed, and the project has not yet completed a third-party code audit.
