TheMarker: Pearl Research Lab Raises $130 Million in Funding; Token Surges 520% in March, Sparking Transparency Controversy

Israeli media outlet TheMarker reported on October 25 that Pearl (PRL), an AI mining project led by Pearl Research Labs—a research lab based in Israel—has raised a total of $130 million to date: $55 million in equity financing and $75 million allocated specifically to a GPU infrastructure fund. Lightspeed, Ribbit, and Square Peg are among the investors. Since its token began trading at the end of April, PRL’s price has surged approximately 520% over three months, with its circulating market cap peaking at $710 million—prompting rapid market attention under the label “Bitcoin for AI.” However, the report notes that the company has not yet provided sufficient disclosure regarding the specific terms of its funding rounds or the governance and operational mechanisms of its GPU infrastructure fund, raising concerns about transparency.