Dorm DAO Research Note Rates Pearl a Buy, Sets $2.5-$3 Target

Cointime reports: The University of Oregon blockchain group Dorm DAO published a research note on Nov. 7 recommending a full-position buy of AI mining project Pearl (PEARL) with a target price of $2.5 to $3, citing a market cap of about $531 million. Pearl is a Layer 1 using useful proof-of-work that swaps matrix multiplication for traditional PoW, letting GPUs secure the network while running AI tasks. The note flags Coinbase and Kraken listing potential, an FP8 kernel upgrade and AI compute narrative as catalysts, while warning that under 1% of blocks involve real AI tasks, supply is projected to grow about 86% next year, and the project has not completed a third-party code audit.