Fleet Expansion — $2M Minimum to Unlock 6.5¢/kWh
A prior deal didn't close. Our hosting provider already has deposits in on $10M of S21 XP Hydro inventory and needs to move it. A minimum $2M commitment from you triggers the volume threshold that drops the electricity rate from 7.0¢ to 6.5¢/kWh — applied to your entire existing fleet, not just the new machines.
Minimum to Participate
$2M
Triggers 6.5¢/kWh across your entire fleet
Cost per PH
$18,605
vs. $25K standard market rate
New Electricity Rate
6.5¢/kWh
Entire fleet — not just new machines
Cash-on-Cash Uplift
+10.3%/yr
13.1% → 23.4% at current hashprice
First Batch Online Within 1 Week
These machines are already purchased — sitting in a warehouse because the prior buyer walked away. There's no manufacturing lead time, no customs delay. Wire the funds and the first batch of hardware goes online within 7 days. That's revenue starting next week, not next quarter.
You know how this math works. The hardware is Bitmain Antminer S21 XP Hydro — 473 TH at 13 J/TH. The pricing coming out of this situation lands well below what you'd pay sourcing these on the open market. But the rate drop is the part that compounds: 6.5¢/kWh applied to your entire existing 44 PH fleet immediately reduces your daily operating cost, regardless of how much new hardware you take.
The minimum to trigger the rate reduction is $2M. The full allocation is $10M. Anything in between works. The breakeven improvement shown below assumes the full 250-machine build-out — if you come in smaller, run the numbers on just your share and the electricity savings still apply to the whole fleet either way.
One more thing: we're dropping our profit share from 30% → 22% for whoever does this deal. That 8% stays in your pocket on every dollar of gross profit the expanded fleet generates — a direct, permanent improvement to your net yield. Combined with the lower rate and cheaper hardware, the cash-on-cash return on your total deployed capital improves materially from day one. See Section 03 to model it at any hashprice.
Understanding the Key Metrics
Key Concepts
Cost Per PH — Why the Entry Price Matters Most
The cost per PH is what determines how profitable a mining operation is before a single block is found. At $18,605/PH, this hardware comes in significantly below what is available on the open market. A lower cost per PH translates directly into a lower breakeven hashprice, faster capital recovery, and stronger returns at every hashprice level.
What is Hashprice?
Hashprice is the daily revenue earned per petahash (PH) of mining capacity. It fluctuates with Bitcoin's price and network difficulty. When Bitcoin appreciates or transaction fees spike, hashprice rises — increasing daily profit per PH accordingly.
What is Breakeven Hashprice?
The minimum daily hashprice at which all electricity costs are covered. Below it, the operation loses money. Above it, every dollar of hashprice is pure profit. A lower breakeven means the fleet remains profitable across a wider range of market conditions.
What This Expansion Does
Adding this hardware at the offered cost basis lowers the fleet's blended breakeven from $25.20 → $21.13/PH/day — a 16.2% improvement. The existing 44 PH deployment benefits immediately from the improved power rate, with no changes to those machines.
Current Position vs Proposed Expansion
Current Fleet
After Expansion
PROPOSEDCurrent Breakeven
$25.20
New Breakeven
$21.13
↓ 16.2%
Lower Breakeven
Profitability & Time to Recover Investment
How to Read This Section
Select your investment amount and drag the hashprice slider to model different market conditions. The two cards show daily P&L for the current fleet vs. the expanded fleet. The "Time to Recover Investment" figure uses only the incremental profit: new machine revenue + electricity savings on the existing fleet, minus new machine operating costs.
Current Fleet
44 PH · existing machines · 7.0¢/kWh · 70% investor share
70% investor / 30% Gasbox
Expanded Fleet
151.37 PH · 227 new machines · 6.5¢/kWh · 78% investor share (up from 70%)
78% investor / 22% Gasbox (down from 30%)
[($38 × 107.37 PH) + $79.20 savings − $2177.76 power] × 78% = $1,545.6/day
3.5 yrs
1,294 days at $38/PH/day
Current
13.1%
$1.1M deployed
After Expansion
23.4%
$3.1M deployed
+10.3%
CoC Improvement
The Math
Current Fleet (44 PH)
New Machines (118.25 PH)
▸ Combined Fleet After Expansion
Total Hashrate
162.25 PH
Blended Efficiency
13.5 J/TH
Total Daily Cost
$3,427.32
Breakeven Hashprice
$21.12
Why This Opportunity Matters
Four Benefits That Compound from a Single Capital Deployment
The story here starts with the cost per PH. That figure alone — well below anything available through normal channels — is what makes the breakeven hashprice as low as it is. The electricity rate reduction to 6.5¢/kWh is an additional tailwind that improves the economics of the existing fleet at the same time. The reduced management fee then amplifies every dollar of gross profit. All three drive a meaningful improvement in cash-on-cash return on your total deployed capital — from day one.
Cost Per PH
$18,605/PH
S21 XP Hydro hardware trades at $25,000/PH through normal channels. This comes in well below that — a direct result of the prior deal falling through — and is the primary driver of the lower breakeven hashprice.
Lower Blended Breakeven
↓ 16.2%
The fleet's blended breakeven hashprice improves from $25.20 to $21.13/PH/day — a direct result of the lower hardware cost basis and the electricity rate reduction. The existing 44 PH deployment benefits from this immediately, with no changes to those machines required.
Electricity Rate Reduction
$28,908/year saved
Reaching the rate threshold drops hosting from 7.0¢ to 6.5¢/kWh across the entire fleet — saving $79/day on existing machines alone. This is a structural operating cost improvement, not a one-time benefit.
Cash-on-Cash Return Uplift
+10.3% improvement
The combination of below-market hardware, lower electricity, and the reduced 22% management fee (down from 30%) drives a direct improvement in annualized cash-on-cash return on total deployed capital. This is the number that matters — what your capital actually earns per year, net to you.
The Profit Share Concession
Standard Share
30%
↓ 8%
concession
Your Share
78%
Our standard arrangement is 70% to the investor / 30% to Gasbox. For whoever participates in this deal, we are permanently dropping our share to 22% — putting an additional 8% of every dollar of gross profit directly back to you. This isn't a temporary promotion. It locks in for the life of the deployment.
At current hashprice ($38/PH/day) on the full 162.25 PH fleet, that 8% concession is worth approximately $203.58/day — or $74,306/year — in additional yield compared to what you'd receive under our standard terms. Use the hashprice slider in Section 03 to model this at different market prices.
Why We're Doing This
We need to move quickly. The hardware is committed, the hosting slot is reserved, and the prior deal falling through created a narrow window. We're giving up 8 points of our management fee because getting this done at scale — and done fast — is more valuable to us than holding the line on percentage. The investor who steps in takes that benefit permanently.
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