Israeli media outlet TheMarker reported on Oct. 25 that Pearl Research Labs, the Israeli research lab behind AI mining project Pearl (PRL), has raised a total of $130 million. The funding includes $55 million in equity financing and another $75 million allocated to a GPU infrastructure fund. Investors named in the report include Lightspeed, Ribbit and Square Peg. The report also said PRL gained about 520% in the three months after its late-April launch, with its circulating market capitalization at one point reaching $710 million. That performance, together with the project’s "AI Bitcoin" narrative, drew market attention. At the same time, TheMarker said the company had not fully disclosed key financing details or the operating structure of its GPU infrastructure fund, raising questions about transparency.
ChainCatcher reported, citing Israeli media outlet TheMarker on Oct. 25, that Pearl Research Labs, the Israeli research lab behind AI mining project Pearl (PRL), has raised a total of $130 million.
According to the report, $55 million came from equity financing, while $75 million was allocated to a GPU infrastructure fund. Investors include Lightspeed, Ribbit and Square Peg.
The report said the token rose about 520% in the three months after launching in late April, and its circulating market capitalization at one point reached $710 million. Its "AI Bitcoin" narrative drew market attention.
TheMarker also said the company had not fully disclosed details of the financing or the operating structure of the GPU infrastructure fund, and that its transparency has been questioned.
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