A reserved GPU-hour pays mostly for the hardware, spread over the term, then for power and cooling, the data-center space, network and storage, operations, financing and the operator's margin. Through Ancapex, reserved B300 on terms of two years or longer costs about $5.40 per GPU-hour at the median, middle half $4.90 to $6.10, our fee included (19 October 2026). The worked numbers below show why the term and the power price move the rate.
Two offers at the same rate can include very different things. Knowing what is inside the number tells you where an offer can move and what to check.
The servers or racks are the largest part. An illustration with round numbers: a 72-GPU rack that costs $5 million, spread over three years of hours, is about $2.64 per GPU-hour before financing, power or margin ($5,000,000 / 72 GPUs / 26,280 hours). Over five years the same rack is about $1.59. This is why longer terms get lower rates.
A Blackwell Ultra GPU draws up to 1,400 W (NVIDIA Blackwell Ultra technical blog). A GB300 NVL72 rack has power shelves rated 132 kW in total (Supermicro): at most about 1.83 kW per GPU with its share of CPUs and switches. Data centers add cooling and losses on top: power usage effectiveness (PUE) averaged 1.52 across sites in 2026, and 1.36 weighted by capacity (Uptime Institute, 2026 survey). So one GPU-hour needs at most about 1.83 kW x 1.36 = 2.5 kWh to 1.83 kW x 1.52 = 2.8 kWh at the meter.
| Power price | Per GPU-hour at 2.5 to 2.8 kWh |
|---|---|
| EUR 0.206 per kWh (Germany) | At most about EUR 0.51 to 0.58 |
| EUR 0.093 per kWh (Finland) | At most about EUR 0.23 to 0.26 |
Power prices: Eurostat, non-household band IC, 2026 H1, excluding VAT. Large sites buy on their own contracts. Ask whether electricity is in the rate or billed separately, and who carries tariff changes over the term.
Operators borrow to buy hardware for sites that go live months later, so the prepayment and the term start change their cost of money. A larger prepayment or an earlier term start can buy a lower rate. The operator's margin and our fee sit on top; at Ancapex the fee is included in the rate we agree with you.
See the GPU lease checklist and reserved against on-demand prices.
Requirements are handled confidentially and shared with operators only on a need-to-know basis, never with your name attached before you approve it. We reply within one business day from dima@ancapex.io.
Hardware spread over the term, power and cooling, data-center space, network and storage, operations, financing and the operator's margin. Check which of them a quote includes.
At most about 2.5 to 2.8 kWh per GPU-hour for a GB300-class GPU with cooling: up to about EUR 0.23 to 0.26 in Finland and EUR 0.51 to 0.58 in Germany at 2026 H1 business prices (Eurostat). Hardware costs several times more.
The hardware cost is spread over more hours: a $5 million rack is about $2.64 per GPU-hour over three years and about $1.59 over five, before power and margin.
Power usage effectiveness: the data center's total power divided by the IT power. It averaged 1.52 across sites in 2026, and 1.36 weighted by capacity (Uptime Institute).
About $5.40 per GPU-hour at the median for terms of two years or longer, middle half $4.90 to $6.10, our fee included (19 October 2026).
