Technology Budget
Technology Plan
March 26, 2026
$45M CAPEX, sub-$1M annual OPEX, $0 electricity — 5-year technology budget for hydro-native GPU facility
$45M
Total CAPEX
$855K
Year 1 Cash OPEX
$0
Electricity Cost
$51.4M
5-Year Cumulative
CAPEX Breakdown — Year 0 (2028)
GPU Compute$26.5M
Networking$4.8M
Storage$2.1M
Cooling (DLC)$1.6M
Civil / Prefab$1.6M
Power / SW / Launch$3.5M
Contingency$4.3M
Annual Technology OPEX — Recurring
| Category | Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 |
|---|---|---|---|---|---|
| NVIDIA Maintenance | $400K | $412K | $424K | $437K | $450K |
| Software Licenses | $150K | $155K | $159K | $164K | $169K |
| Ins. + Conn. + Visits | $185K | $191K | $196K | $202K | $208K |
| Remote NOC | $120K | $124K | $127K | $131K | $135K |
| Electricity | $0 | $0 | $0 | $0 | $0 |
| Total Cash OPEX | $855K | $881K | $907K | $934K | $962K |
Growth: 3% p.a. · Depreciation: $6.43M/yr (7yr SL, non-cash) · Electricity: $0 BTM JV
Year 1 OPEX Composition
NVIDIA Maint.47%
Ins. + Conn.22%
Software18%
Remote NOC14%
Technology Refresh Reserve
| Item | Year 3 | Year 5 |
|---|---|---|
| Storage expansion (~500 TB) | — | $700K |
| Networking upgrade | — | $1.2M |
| GPU firmware / drivers | $0 | $0 |
| Subtotal Reserve | $0 | $1.9M |
[Estimate] · Next-gen GPU cluster = separate CAPEX cycle (expansion facility)
5-Year Technology Budget Summary
Year 0
$45.0M
CAPEX
Year 1
$855K
OPEX
Year 2
$881K
OPEX
Year 3
$907K
OPEX
Year 4
$934K
OPEX
Year 5
$2.86M
OPEX + Refresh
Structural Advantage · 1for.ai
$0 electricity via behind-the-meter hydro JV eliminates the industry's largest recurring cost (30–50% of OPEX). Total 5-year cash OPEX of $4.5M on $45M CAPEX yields a cost profile structurally inaccessible to grid-dependent operators. Depreciation ($6.43M/yr) dominates total cost — not operations.
