MLX / Comparisons

TangTrades research · 2 November 2026

Distributed AI.
Different models.

MLX alongside Apple Minions, EXO, Darkbloom, Pearl Research and Bittensor. Architecture, commercial evidence and token economics.

Research snapshot: 2 Nov 2026 · 02:44 SGT · Headline counters can refresh

Public network telemetry

Seats, Macs and work.

Source time: 2 Nov 2026 · 02:44 SGT

Total seats

70

18 dedicated entitlements + 52 free assignments

Macs seen in 7 days

64

Recent linked devices, including those now offline

Laptops seen in 7 days

45

MacBook entries; 19 desktop Mac entries separately

Macs online

15

14 working or waiting between jobs

480Reported tokens / second
177.22MRecorded tokens · 7 UTC-day window
0Paid API requests · same window
252.3 TFLOPSPledged class estimate · not a benchmark
Saved snapshot; checking the public APIs for a newer observation.Work counter: 2 Nov 2026 · 02:44 SGTLedger: 2 Nov · 02:35 SGT

Seats are entitlements and assignments; they are not a computer count. Recent devices are project-reported entries, not an audited inventory of unique hardware. Live counters refresh while this page is open; charts and research commentary retain the dated snapshot. Metric definitions ↗

What changed since the previous published activity snapshot?

Comparison with 1 November, 19:12 SGT, using the new 2 November, 02:44 SGT research snapshot. These are dated observations; the live cards above can be newer.

MeasurePreviousUpdatedChange
Total seats7270-2
Macs seen in 7 days6764-3
Linked registration keys8181Unchanged
Recorded work tokens164.65M177.22M+7.64%
Mining distributions1,080.80 MLX1,110.61 MLX+29.81 MLX
Paid API requests00No paid requests recorded

A rolling-week count can decline when older entries leave the window. This does not identify why individual devices stopped reporting. The increase from 305.4 to 309.9 estimated registered TFLOPS is a parsing correction for an existing Apple M5 Pro entry, not newly added hardware.

Six approaches to distributed AI.

01

MLX.app

Mac software + token network

Product and approach

MLX Node contributes AI work; Harness runs local and connected AI tools. The project publishes token and supply data. [4][1]

Key considerations

Commercial scale depends on repeat paid workloads, reliable execution and sustainable worker economics. Published reserve figures remain project-reported; independent reserve verification has not been established. [5]

02

Apple Minions

Research · shared Mac inference

Read the comparison ↓
Product and approach

Apple research pools idle Macs for independent embedding and text-generation tasks. Workers claim jobs through a central service; interrupted work can be retried. [12][13]

Key considerations

Reports shorter internal GPU queues. The paper describes no token or public compute marketplace. A technical comparable; public-network economics and customer demand require separate evidence. [13]

03

EXO

Local model clustering

Product and approach

Open-source software discovers devices and splits models according to available resources and network topology. [6]

Key considerations

Fast multi-Mac configurations rely on compatible hardware and local networking. It is a reference for local clusters; geographically distributed devices face different latency and bandwidth constraints. [6]

04

Darkbloom

Routed inference on idle Macs

Product and approach

Routes API inference to Apple Silicon providers, with per-token pricing and published trust boundaries. [7]

Key considerations

The coordinator and provider handle plaintext at defined points. Published API and provider documentation are available. Published availability and pricing do not establish production reliability or realized customer volume. [7][8]

05

Pearl Research

Inference serving + mining incentives

Product and approach

Offers serverless, managed and on-premise inference. Together announced a Pearl-powered endpoint using token incentives to subsidize inference pricing. [9][10]

Key considerations

Token emissions can subsidize delivery costs. Durable commercial economics still depend on paying customers, service reliability and margins after incentives.

06

Bittensor

Subnet incentive network

Product and approach

Independent subnets produce digital services; miners supply outputs and validators score them within a token-incentive framework. [11]

Key considerations

Broader than a single inference provider. Customer adoption, service quality and economics need to be evaluated at the subnet level.

Price, supply & liquidity.

A consistent maximum-supply FDV calculation, with different pricing mechanisms made explicit. These are dated market observations; live refresh above applies to network telemetry.

MLX

MLX ↗

Protocol curve · issuer-reported

Circulating market cap
$20,481
FDV · maximum supply
$100.1M
Reference price
$0.01001
Circulating supply
≈2.0M MLX
Maximum supply
10B MLX
≈0.020% circulatingof maximum supply

Curve-implied FDV. The issuer reports $23,788 of USDC sell liquidity; reserve verification remains unestablished. The reference curve price is not the executable sell quote.

Pearl Research

PEARL / PRL ↗

External-market quote · CoinGecko USD API

Circulating market cap
$554.3M
FDV · maximum supply
$3.192B
Reference price
$1.52
Circulating supply
365.355M PEARL
Maximum supply
2.1B PEARL
17.40% circulatingof maximum supply

FDV = $1.52 × 2.1B tokens. Token incentives and commercial demand require separate evaluation.

Bittensor

TAO ↗

External-market quote · CoinGecko USD API

Circulating market cap
$2.716B
FDV · maximum supply
$4.879B
Reference price
$232.31
Circulating supply
11.682M TAO
Maximum supply
21M TAO
55.63% circulatingof maximum supply

FDV = $232.31 × 21M tokens. Maximum-supply FDV differs from the aggregator’s issued-supply FDV.

Valuation basis. Circulating market caps are source-reported. FDV = displayed reference price × maximum supply, so it can differ slightly from a provider’s figure using an unrounded price. Supply and market-cap fields can update independently. MLX’s circulating supply is rounded by its source; the comparison does not infer a more precise float from it.

Price and liquidity. MLX’s protocol curve is distinct from external-market prices for PEARL and TAO. Its published buy premium is 3% and sell discount is 20%; the displayed spot buy / sell quotes are $0.01031 / $0.008007. Neither circulating capitalization nor FDV is the cash available for exit. Public reserve amounts are issuer-reported.

Sources: MLX token page, explicit USD market API, captured market data ↓. The source manifest preserves the previous comparison snapshot as historical provenance.

The same spare Macs.
A different operating model.

Apple Minions turns spare Mac GPU capacity into a shared inference service. MLX.app combines outside participants, wallets, rewards and customer billing. [12][14][15]

WHAT APPLE BUILT

Published in October 2026, Minions divides AI work into independent batches that available Macs execute. Its described workloads are embeddings and LLM completions, using Hugging Face transformers and Ollama. [12][13]

This is Apple's Minions paper, separate from Apple's MLX framework and the independent MLX.app network. MLX.app states that it has no affiliation with Apple. [12][19]

What differs in the documented systems
DimensionApple Minions [13]MLX.app [14][15][16]
Primary purposeClear teams' inference backlogs using existing Macs.Recruit Mac providers and develop a paid compute service alongside token mining.
CoordinationWorkers pull tasks through a central server; PostgreSQL tracks ownership; S3 holds data.Distributed workers receive jobs from a central server that collects results and applies reward rules.
Work availableEmbeddings and LLM completions. Distributed training is future work.Published paid pilot: Qwen 2.5 0.5B, text only, up to 120 output tokens, no streaming. [18]
Trust & privacyOrganization or team pools can be isolated for confidentiality.Raw customer prompts go to other participants' Macs. The pilot advises nonconfidential work.
Failures & verificationHeartbeats and a watchdog return unfinished work to the queue.Normally compares two executions from different wallets in the same GPU group; may use a third after disagreement. After 45 seconds, a lone response can be billed as unverified. Matching output measures consistency, not independent answer quality.
PaymentsNo token or customer-payment design described.Paid jobs go only to dedicated-seat Macs. Customer fees: 90% to matching workers in USDC; 10% to treasury. Token mining is separate.

Coordination matters. Minions avoids a central push scheduler by letting workers claim tasks, but retains central services. MLX also has a central job server. Calling one centralized and the other fully decentralized would obscure the documented architectures. [13][16]

APPLE · REPORTED OPERATIONAL RESULT

Hours of queueing → minutes

Some jobs previously waited over ten hours; Minions often let them start within minutes. This measures access to compute, not faster model execution. The paper supplies no fleet count, throughput or full operating-cost benchmark. [13]

Reusing hardware avoids new GPU purchases. Electricity, storage, networking and operations still need to be costed.

MLX · PUBLIC COUNTER SNAPSHOT

Paid usage remains to be demonstrated

The public counter reported zero paid API requests and zero paid tokens in its displayed seven-day window. It described recorded token work as verification activity. [17]

Research snapshot: 2 Nov 2026, 02:44 SGT. The counter reported 177.22M tokens, all verification work. Project-reported and unaudited; the live panel at the top can show newer observations.

IMPLICATION FOR MLX · ANALYTICAL JUDGMENT

Technical feasibility is supported. Commercial differentiation is still the task.

Minions strengthens the case for useful work on spare Macs. MLX's defensible value would come from distribution, repeat customers, reliable delivery, privacy, verification and sustainable provider earnings. Connecting Macs alone offers limited differentiation.

We would prioritize nonconfidential, retryable batch work such as public-document processing and embeddings. Embeddings are a proposed MLX expansion here; the current paid pilot documents chat completions. Neither cited system demonstrates one frontier model split across a worldwide Mac fleet.

Confidence: high on the documented architectures and published limitations; moderate on this commercial interpretation. Apple Minions is included as a technical comparable. No standalone token valuation is assigned.

Current product / published scope

The pilot, precisely.

The local Harness app and the paid network API have different capabilities. This panel describes the published paid API.

Read API documentation ↗
Model & priceQwen2.5-0.5B-Instruct, 4-bit · $0.02 per million prompt or completion tokens
Request limits4,000 prompt characters; up to 120 output tokens; no streaming; up to 45 seconds
RoutingDedicated-seat Macs. Full eligibility depends on wallet, GPU group, availability and worker state.
VerificationSame-group output agreement; a third Mac can resolve disagreement. A lone response can be billed as unverified at the deadline. Execution audits are partial and do not currently change pay.
Customer payments90% to qualifying workers and 10% to treasury in USDC. MLX mining distributions are a separate flow.
PrivacyWorkers receive customer prompts. Initial customer tests should use nonconfidential data.
Observed commercial statusPilot open since 27 October. At the 2 November research snapshot, the public seven-day counter shows zero paid requests and zero customer spending.

Sources: model catalogue, request limits, routing and payments, execution checks. Published specifications were checked; they do not constitute an independent service benchmark.

Evidence / methods / downloads

Make the numbers checkable.

The public APIs provide the observations. The downloaded datasets preserve coverage, source timestamps and calculation methods.

Research cutoff: 2 November 2026, 02:44 SGT. Reward ledger checkpoint: block 788. The 345 hourly records reconcile to 1,110,613,036 MLX base units, or 1,110.613036 MLX. The prior 338 records are retained unchanged.

Chart coverage: registered keys and dedicated seats are reconstructed from the ledger. Token-output counters start 27 October. The minute archive retains 1,892 observations; no earlier online history is fabricated. Displayed daily token dates are UTC, while registration and hourly-reward dates use Singapore time.

Refresh behavior: headline metrics query the public APIs while the page is open. If retrieval fails, the last successful values remain visible with their source times. This does not collect background history; the downloadable datasets and research commentary remain at the dated cutoff. External token-market observations have their own source timestamps.

Source context: Network and reserve figures are project-reported. MLX.app is independent of Apple; Apple Minions and Apple's MLX framework are separate projects.

Comparison references and primary documentation
  1. MLX token: price and supply
  2. Pearl Research market data
  3. Bittensor market data
  4. MLX product and applications
  5. MLX reserve disclosures
  6. EXO source code and setup
  7. Darkbloom architecture and trust boundaries
  8. Darkbloom documentation and development status
  9. Pearl Research inference services
  10. Together AI and Pearl Research partnership
  11. Bittensor network documentation
  12. Apple Minions: official research publication
  13. Minions paper: architecture, operational results and limitations
  14. MLX Compute API: current pilot scope
  15. MLX Compute API: routing, verification, payment and privacy
  16. MLX job protocol: central coordination and verification limits
  17. MLX public compute-work counter
  18. MLX Compute API: model and request limits
  19. MLX Network and Apple MLX: affiliation and runtime