Pearl Research Labs has developed a Layer-1 blockchain using Proof-of-Useful-Work (PoUW), a mechanism that converges GPU mining and AI inference by making matrix multiplications the foundation of proof-of-work. The native PRL token, with a maximum supply of 2.1 billion, reached an all-time high above $1.60 in late September 2026, after a 67% rally in 24 hours. A partnership with Together AI enables AI inference at more than 25% below market rates, with PRL emissions subsidizing the discounts. The company also published an FP8 scheme in September 2026, doubling throughput on compatible hardware. An empirical analysis tempers the picture: a significant portion of computational power serves unpaid workloads, with miners performing useful operations but not yet connected to paying customers.
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