Pearl AI-compute crypto profitability halved for GPU miners

TL;DR. The new Pearl cryptocurrency, which uses AI workloads for its Proof-of-Useful-Work consensus, sparked a GPU mining rush. - Profitability for RTX 5090 miners has fallen by nearly 50% to 7.19 daily since Pearl's April launch. - Pearl's network difficulty increased sharply as more miners flocked to the platform using cloud GPU instances. - Together AI partnered with Pearl, offering discounted inference costs offset by future PRL crypto emissions.

• Pearl cryptocurrency leverages matrix multiplication, a core AI workload, for its Proof-of-Useful-Work consensus mechanism.
• A mining rush ensued, with RTX 5090 daily revenue dropping from $33.80 to 7.19 since late April due to increased network difficulty.
• Most mining activity occurs on rented cloud GPU capacity, and the generated 'useful work' outputs are largely unsolicited.
• Together AI announced a partnership, offering discounted AI inference services tied to Pearl's PRL token emissions.

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