Where the rent goes
Each ring shows the split of its own monthly rent budget. Slice angles show shares; ring area does not compare dollar totals.
Inner pie$4 / hrMiddle ring$8 / hrOuter ring$12 / hr
RENT / MONTHLY COST BREAKDOWN
What goes into rent.
Start with 12 pods within a 27-pod floor. Adjust operating count, sold capacity and price. Inspect each cost per GPU, for the whole site and as a percentage of revenue.
THREE PRICES / ONE OPERATING SCENARIO
How rent changes at $4, $8 and $12.
Rent as a share of revenue
Same cost colors, divided by gross revenue at each price.
Budget & revenue as price rises
Monthly totals · same GPU count and sold capacity
Rent budgetGross revenue
Point at the lines or focus a $4, $8 or $12 marker for values. Budget steps include whole hires and price-triggered funding.
Amounts behind the charts
Rent here means the assigned cash budget, including planned financing and reserves. Costs are recalculated at each price, so staffing, procurement, certifications, SLA and green funding can change.
Revenue against the cost budget
Average month · per GPU offered and whole deployment
| Monthly calculation | Per GPU | Total | % of gross revenue |
|---|
Calculation source reference
Revenue formula from Western model source ↗: 70,080 annual GPU-hours per eight-GPU assembly, or 730 hours per individual GPU per average month. The owner’s working target is H200 at $4/GPU-hour; 70% sold time is the starting sensitivity. These are gross billings, before fees, collection delays and unresolved costs.
Make the selected price cover the budget
Whole-unit fleet sizes · same costs as the accounting tree
Starting target · 12 pods
Same operating count and price at each occupancy. Every row uses the selected funding rules. Cash left is before deferred procurement and unpriced costs.
| Sold capacity | Gross revenue / month | Funded uses / month | Cash left before deferred costs / month | Cash left / revenue |
|---|
Compare minimum fleet sizes within the starting floor
The comparison below uses the selected price-ramp or full procurement funding, including its effect on percentage reserves. The entered committed people, compensation, planned financing and annual renewable participation stay in the calculation. Other price-triggered costs follow the selected price.
| Sold capacity | Modeled monthly break-even | Fleet for 20% cash left | Target-case cash / month | Target fleet · capacity & equipment |
|---|
Cost levers · edit scenario inputs
Change a value only as a planning comparison until the cost or funding credit is supported. Payroll and employer-cost inputs remain in the staff breakdown.
The $3.5M financed balance is a working assumption based on a $1M reduction; actual sources and uses remain unconfirmed. Certification funding above the launch tier is an editable planning allowance. Paying capital from another source can reduce the financed balance only once; it does not make the equipment free. Lowering procurement funding merely defers cash still due. New active hardware, capacity expansion, fees, taxes and unpriced service obligations require their own funding.
MONTHLY CASH BUDGET
Cost breakdown
Standby, SLA & emergency-fluids settings
0% · purpleLow positive · green → yellow → red · highUnpriced · gray
One selected price and sold-capacity setting applies throughout. Revenue mode divides each cost by gross billed revenue; budget mode divides it by assigned monthly costs. The dollar columns allocate the same site cost over offered GPUs. Debt principal and reserves are cash uses; unpriced and upfront obligations remain separate.
This is a planning cash budget. Site costs are counted once and allocated across the GPUs offered for sale; complete hardware units and actual ready standby drive equipment and energy costs. Vacancy does not erase fixed expenses. Required cost, a proposed rental charge and investor cash returns are different quantities.
Price triggers & budget assumptions
Confidence in the basis, not a promise of accuracy. The bins run from reproducible load calculations to unresolved scope. No line is presented as a verified project invoice or executed quote. Source-based quantities, entered assumptions and policy allowances remain distinct.
One complete scope; different funding paths
The starting target is 12 H200 pods at $4/GPU-hour, with 70% sold time as the initial sensitivity. One pod in this scenario is one eight-GPU financial assembly plus its NVLink baseboard: 12 pods means 96 GPUs. The floor maximum is 27 such pods / 216 GPUs; unused positions do not produce revenue or acquire active-system power costs. Shared site costs are counted once across the operating fleet. Founders are budgeted at $10k/month each. Standby procurement and certification upkeep have zero allocation at H200 $4; the existing platform base-to-first-target ramp is the working higher-price schedule. Financed balance is a $3.5M planning assumption, pending the funding ledger. The standby target and deadline remain separately visible. Pod counts do not establish physical cabinet density or approved electrical capacity; GB200 remains a separate whole-rack comparison.
A purple 0% means a modeled zero monthly allocation. A modeled $0 can mean already funded, deferred, not activated, or not priced. Each has a different consequence. Unpriced subcomponents stay unpriced in the register and are not silently assigned zero shares. The register documents 52 lines covering all 78 entries in the prior cost records; its supplier prices and funding evidence are still incomplete.
FINANCING / SHARED CASH USES
Planned financing, line by line
Uses of financing · allocation still to verify
These capital scopes are documented, but no matched ledger allocates the currently entered financed balance among them. They are not additional monthly charges or amounts to add to the loan payment.
STAFF / PEOPLE & COVERAGE
Full staffing breakdown
Payroll stages are selected by recurring budget, not elapsed years. The current operating scenario commits four people; choose three for the build-stage budget, or raise the floor for existing hires. Annual salary figures exclude unentered employer costs. Salary midpoints and raises are editable.
Staffing pay & committed team settings
Readiness gates alongside the budget
| Stage | Owner operating requirements | Funding / evidence boundary |
|---|---|---|
| Build · 3 people | Facilities lead joins the founders. CTO/CFO owns security, compute operations, broker sales, sourcing, vendors, environmental monitoring and controls. CEO/COO owns plant accountability and written emergency-spend authority; facilities lead is backup and named successor. | Start collecting evidence before customers: badge access with at least one year of logs, cameras at entries and the floor, encryption at rest/in transit, environmental sensors and an incident-response plan. This is the owner control plan, not completed certification. |
| Go live · 4 people | CTO deputy in place before the first customer, with an on-call rota and CTO-authored runbooks. Brokers sell against the $5/GPU-hour planning case; 70% utilization is a target, not booked demand. CTO retains commercial operations. | Key-person insurance on CTO, written succession, monthly independent access-log sign-off by CEO or deputy. Premium, rota adequacy and service coverage remain to verify. |
| Steady state · 5 people | Compliance officer prepares evidence and the audit. Owner target: appoint 3–4 months before first audit; Type 1 then Type 2 with a planned 6–12-month evidence window, alongside HIPAA readiness. | Hiring is budget-based; audit timing still follows actual scope and evidence. Audit duration/retention are not automatically prescribed by this staffing plan. Certification upkeep and setup allowances must credit any proven overlap with payroll once. |
| Growth · 6 people | Network operations engineer joins as workload grows. CTO shifts toward CFO; deputy or network engineer takes named internal control ownership. External advisor guides; CTO retains commercial operations without a new commercial hire. | Milestone raises: facilities lead toward $100k, deputy toward $90k, reviewed against government-contract and 70% utilization milestones. Budget support alone does not prove all security duties are staffed. |
SOC reporting and HIPAA readiness need scoped controls and evidence, separately from salary funding. AICPA SOC guidance; HHS risk-analysis guidance.
EQUIPMENT / ACQUISITION & COVERAGE
What the equipment funding buys
Emergency fluids accumulation
SCOPE, BASIS, PAYER & TIMING
The full expense register
How the budget is reconciled
- Identify the required expense, committed service and cash due date.
- Credit existing coverage, startup funding, earmarked cash and the same cost already included in another line.
- Allocate shared facility and peak-capacity costs once; meter energy and assign tenant-specific additions separately.
- Show operating costs, scheduled debt, faster repayment, reserve contributions and upfront capital separately.
- Compare those uses with collected rent. Cash created by delaying required procurement is not established profit.
Insurance quotes/limits, actual utility charges, staffing coverage, startup funding, required SLA remedies and expansion C/K/W remain open. Historical whole-site allowances are retained as evidence, not added to the current budget. The next step is to replace unallocated allowances with matched cost and funding records.
INTERNAL / ACCOUNTING TREE
Open the books, one branch at a time.
Expand an account to see its components. Filled boxes show the current budget; “Unpriced” and “Included” identify the remaining scope. Pie links open a snapshot of that branch in a new tab.
52 register lines mapped · 14 additional reconciliation checks. This is a scope checklist, not a completeness certificate. A formula can be sound while its rate, coverage or supplier quote is still unverified.
Expense accounts
Each site total is allocated across the GPUs offered for sale. Revenue mode shows cost as a percentage of gross billings; budget mode shows share of the parent account. Reference rows and separate ledgers are excluded from totals. Open any item for its basis.
Keep these alongside the monthly budget
Initial facility and compute purchases, deposits, unfunded bills and working capital still require a matched funding ledger. Loan proceeds or owner capital fund uses; they are not operating revenue. Depreciation and distributions are not extra monthly cash bills.
These are planning cash classifications. A reserve contribution is not yet a consumed service; a principal payment is not operating expense. Final accounting recognition follows the underlying contract and asset.
Adjust reserve, SLA and funding settings in Cost breakdown →Account index by expense family
Thirteen expandable folders index all 52 maintained register lines. Use the tree above for additive cash totals; this index and the coverage sheet include reference subtotals and overlapping scope.
Power & fluids7 accounts
Metered kWh, cooling and shared load, actual standby load, demand kW, service fees, minimum commitments, riders and emergency fluids. Standby cash held for later use is separate from consumed energy.
- P00Metered energy budget
- P01Active full-system IT electricity
- P02External cooling electricity
- P03Shared site electricity
- P04Standby electricity allowance and accrued reserve
- P05Demand, capacity, overage and other utility charges
- P06Emergency fluids allowance
Site & facility build9 accounts
Site rights, shell and civil work, incoming utility capacity, distribution, cooling, UPS/generator plant, engineering, permits, commissioning and construction contingency. Reconcile each asset to its funding source.
- F03Separate facility / external slot carrying cost
- C01Land, site rights and premises
- C02Building shell, civil works, access, fencing and well
- C03Utility interconnection and incoming power capacity
- C04Internal electrical distribution and rack feeds
- C05Cooling and heat-removal plant
- C06Generator, UPS and critical plant redundancy
- C08Design, engineering, permits and commissioning
- C09Construction contingency
People & coverage3 accounts
Founders, facilities lead, deputy, compliance and network operations; employer taxes, benefits, leave, overtime, relief coverage, training and recruiting. More assemblies can support a larger staffing pool; affordability and coverage still need separate checks.
- S01Founder base payroll
- S02Named hires and budget-based rollout
- S03Employer payroll costs and coverage gaps
Compute & backup equipment5 accounts
Populated assemblies, complete hosts, ready inventory, future spares, procurement, warranty scope and backup testing. Eight matching GPUs plus one NVLink baseboard is one financial assembly; GB200 remains a whole NVL72 rack.
- H01Initial active GPUs, baseboards, hosts and installation
- H02Additional warranty funding for active / ready equipment
- H03Half-life standby procurement and future-spare coverage
- H04Freight, procurement, commissioning, taxes and custom changes
- B01Backup maintenance, testing and upkeep
Network, software & security3 accounts
Switches, storage, optics, transit, cross-connects, IP services, DDoS protection, orchestration, licensing, monitoring, backups, access control, cameras and log retention. Shared staff and subscriptions must be charged once.
- C07Network fabric, switches, storage and rack infrastructure
- O02Connectivity, physical security and site access
- O03Software, monitoring, isolation and incident operations
Maintenance & site services2 accounts
Preventive maintenance, vendor contracts, repairs, water, sewer, cleaning, pest control, landscaping, consumables and waste services. Parent allowance and child invoices are alternatives in the total, not additional charges.
- O00Common operations envelope
- O01Facility maintenance, repairs and consumables
Administration, tax & tenant work3 accounts
Bookkeeping, legal, banking, office/admin, permits and renewals, tenant-specific reviews and applicable property, equipment and income taxes. Confirm which party bears each bill and whether it is already inside another allowance.
- O04Administration, legal/accounting and site carrying
- X02Custom tenant work, reviews and deal documentation
- X03Equipment, property and income taxes
Insurance, SLA & retained risk6 accounts
Baseline policies, added premiums, support contracts, restoration capacity, additional redundancy, deductibles and service credits. A premium, a reserve and a purchased spare solve different funding needs.
- O05Baseline facility, hardware and liability insurance
- L00Price-funded additional SLA service envelope
- L01Incremental SLA insurance premiums and fees
- L02Failover capacity, restoration labor and service support
- L03Additional redundancy acquisition funding
- L04Credits, refunds, deductibles and recovery-timing cash
Certification & assurance3 accounts
Initial readiness, independent assessments, audit cycles, evidence tooling, penetration testing, remediation and renewals. Internal compliance salaries remain payroll; avoid buying the same work twice.
- Q01Initial certification / readiness work
- Q02Recurring certification, audits and upkeep
- Q03Additional early-program certification work
Green energy & environment4 accounts
Annual renewable participation, new solar funding, metering/verification and optional heat reuse. Solar land, interconnection, maintenance, insurance and end-of-life work need their own project ledger before claiming funded delivery.
- G01Level-1 annual renewable participation
- G02New solar construction reserve
- G03Environmental metering, reporting and verification
- G04Optional heat-reuse project
Financing & opening cash3 accounts
Opening balance, interest, scheduled and accelerated principal, origination/closing fees, deposits and pre-opening costs. Match capital already funded by purchase proceeds or equity before recovering it again in rent.
- F01Scheduled planned financing
- F02Extra principal / faster payoff
- C10Opening costs, utility deposits and pre-opening debt
Selling & distributions2 accounts
Broker/marketplace charges, collection/processing costs and customer acquisition. Distributions and retained margin are allocations after costs and obligations; they are not supplier expenses.
- X01Sales, marketplace and processing delivery costs
- R03WUP participation, lessor margin and investor distributions
Working capital & capacity2 accounts
Payment delays, committed bills, reserve balances, expansion funding and the continuing cost of retained capacity. Empty capacity, installed equipment and revenue-producing capacity remain separate.
- R01Ordinary working capital and operating contingency
- R02E capacity purchase, allocation and retained deployment
What is actually covered?
Amounts here are cross-references, not an additive second budget. Parent totals, child items and envelopes must not be summed together.
| Register / cost | Coverage now | Site / month | Basis and double-count check |
|---|
Fourteen checks to close the gaps
Our review combines the existing cost register with the accounting categories in the filings below. These are review requirements, not new charged amounts. Enter actual amounts, payer, evidence and inclusion/offset in the downloadable worksheet.
A01 · Actual utility bill reconciliation
Obtain the serving tariff and a representative bill: energy, peak demand, ratchets/minimums, riders, fixed charges, reactive-power penalties where applicable and taxes. Reconcile meter scope against cooling and shared loads.
Recurring bill; no new tariff rate entered. Deposits belong in C10, not energy expense.
Register: P01, P02, P03, P05A02 · Fully loaded employment cost
Price employer payroll taxes, benefits, workers compensation, leave/relief coverage, overtime/on-call, training, recruiting and outsourced payroll. Match salary roles to actual coverage requirements.
Payroll burden defaults to zero; zero is an unfilled input. Do not duplicate staff costs inside vendor or operations allowances.
Register: S01, S02, S03A03 · Plant service and consumables schedule
Itemize cooling service, pumps/filters, water/sewer, generator tests and fuel, UPS batteries, fire suppression inspections, cleaning, grounds, pest control and fluid testing/replacement/disposal.
Recurring service versus replacement capital versus inventory. Withdrawals from funded reserves must not be charged again as new reserve funding.
Register: O01, B01, P06A04 · Matched insurance and SLA obligations
Quote property/equipment, liability, cyber, business interruption, workers compensation and key-person cover as applicable; identify deductibles, exclusions, extra support and enforceable service-credit exposure.
Baseline insurance is in O00 scope; added insurance is separate. Reserve cash is not an insurance premium or a completed failover purchase.
Register: O05, L00, L01, L02, L03, L04A05 · Connectivity, licenses and security vendors
List transit circuits, cross-connects, routing/IP costs, storage/backup, software licenses, monitoring, support contracts, cameras, badges and retention costs; separate setup purchases from subscriptions.
O02/O03 are inside O00 with no component prices. Replace an allocated portion when actual invoices are entered; do not append them blindly.
Register: C07, O02, O03A06 · Tax, professional fees and recurring permits
Identify property/equipment assessments, applicable purchase/use taxes, entity income taxes, permit renewals, legal, bookkeeping and banking. Record tax bases, due dates, pass-throughs and any quoted escrow.
Different tax bases and payers need separate lines; no tax rate or exemption is assumed here.
Register: O04, X02, X03A07 · Asset register, depreciation and impairment
Record asset owner, invoice cost, in-service date, useful life, residual value and funding source; maintain depreciation and impairment separately from purchase cash.
New accounting companion; not an added monthly cash charge. Land is separated from depreciable assets. Replacement reserves are not depreciation.
Register: C01, C02, C04, C05, C07, H01, H03A08 · Retirement, removal and restoration
Check lease restoration, equipment removal, secure data destruction, recycling/e-waste, fluid disposal and decommissioning obligations; price applicable scope and dates.
New explicit lifecycle check. Applicable obligations need both accounting treatment and a cash plan; no reserve balance is assumed.
Register: C01, C05, C06, H01, H04A09 · Receivables, customer deposits and deferred revenue
Track billed versus collected cash, payment terms, customer deposits, prepaid service, payables, prepaid insurance/licenses and inventory separately. Assess collection losses.
New balance-sheet companion. A customer deposit is not automatically earned revenue; a delayed bill is not eliminated cost.
Register: R01, X01A10 · Bad debts, selling fees and customer credits
Document broker/marketplace/payment fees, acquisition costs, refunds, billing disputes, SLA credits and expected collection losses; identify revenue offsets versus expense under the applicable policy.
Use gross-to-net collections and settlement timing. Do not count the same credit in both reduced receipts and a second loss charge.
Register: X01, L04, R01A11 · Loan and capital-funding reconciliation
Match each financed use to loan, equity, purchase-funded capital, deposits or grant funding. Obtain the amortization schedule, closing fees and prepayment terms.
Interest and principal differ. Upfront funded capital must not be recovered twice through acquisition funding and recurring finance charges.
Register: F01, F02, C10, H01, R02A12 · Opening reserves, withdrawals and committed cash
Maintain opening cash + contributions − eligible spending = closing reserve, with purpose, account, due date and shortfall. Identify funds already committed to procurement.
Contributing to a reserve is a cash allocation, not a second expense when the bill arrives. Deferred procurement does not create distributable margin.
Register: H03, L04, P04, P06, G02, R01A13 · Complete solar and renewable delivery costs
Confirm annual program enrollment/premium and evidence; price solar land, design, interconnection, permits, construction, financing, operating service, insurance and decommissioning. Document production and matching periods.
The solar reserve is funding toward delivery, not delivered energy. Avoid duplicating site costs already assigned to another project.
Register: G01, G02, G03, G04A14 · Empty versus installed retained capacity
Assign the payer for empty capacity carrying costs, hardware deployment, utilities, upkeep and staffing before modeling retained capacity revenue.
Capacity rights are not installed GPUs. No E allocation, purchase price or retained-cost payer is elected in this map.
Register: R02, F03, P03, S03PRIMARY SOURCES / REVIEWED 9 OCTOBER 2026
Real data-center accounting examples
These are real published consolidated financial statements, not a private facility’s general ledger or an invented sample. A GPU cloud and a colocation business classify costs differently. Selected annual amounts show structure and scale; they are not WUP quotes, per-assembly benchmarks or complete statement totals.
CoreWeave · GPU cloud operator
Facility delivery costs and technology costs are separate: server/network depreciation sits in technology, while rent and power sit in service delivery. Asset purchases appear in investing cash flow. This is a consolidated company statement, not a facility quote.
| Category (paraphrased) | Amount | Statement |
|---|---|---|
| Service delivery costs | 1,453 | Income statement |
| Technology & infrastructure | 2,929 | Income statement |
| Selling and marketing | 144 | Income statement |
| Corporate administration | 651 | Income statement |
| Net financing interest cost | 1,229 | Below operating income |
| Cash asset purchases, including internal software | 10,309 | Investing cash outflow |
Open original 2025 filing ↗Form 10-K, pp. 68–69, 85 and cash-flow statement pp. 88–89; Note 1 accounting policies
Equinix · colocation operator
Facility delivery includes depreciation, leases, power, connectivity, people, upkeep and security. Its accounts also identify uncollectible bills and retirement obligations. Corporate overhead and financing sit separately. These categories guide our checklist; their company-wide amounts do not set our rates.
| Category (paraphrased) | Amount | Statement |
|---|---|---|
| Service delivery costs | 4,508 | Income statement |
| Selling and marketing | 903 | Income statement |
| Corporate administration | 1,840 | Income statement |
| Financing interest cost | 527 | Below operating income |
| Cash purchases of other plant/equipment | 4,311 | Investing cash outflow |
| Separate real-estate purchases | 994 | Investing cash outflow |
Open original 2025 filing ↗Form 10-K, p. 50; statements F-4/F-8; Note 1 and Note 6
Our worksheet is a WUP planning template derived from this comparison. It is not either company’s internal accounting workbook. Reconcile an income statement, balance sheet and cash-flow ledger together before judging margin or available cash.