01Tab 1 / Summary
Headline economics — 40 MW mid-case
Live snapshot of the full-stack economics. All figures sourced from the Feb 11 and Mar 31 2026 Ecoblocks calls with Doug Makishima, then re-derived from the assumptions on the Inputs tab.
| Line item | Value | Calc |
|---|---|---|
| Capacity (MW IT load, nameplate) | 40.0 MW | Phase 1 target; uptime shown separately |
| Total GPUs (@ 512/MW default) | 20,480 | GPUs per MW × MW |
| All-in CAPEX | $1,708M | Per-MW × MW turnkey mid |
| Avro-side CAPEX | $28.0M | Substation + pad + bit barn + fiber |
| JV-side CAPEX | $1,680M | MDCs + GPUs + networking |
| Annual power consumption (MWh) | 432,744 MWh | MW × 8760 × uptime × PUE |
| Annual power cost | $15.1M | MWh × ¢/kWh ÷ 100k |
| Annual GPU revenue | $152.5M | GPUs × rate × hours × util |
| Annual OPEX | $7.7M | FTEs × $/FTE + MW × $/MW |
| EBITDA / yr | $129.6M | Revenue − power − OPEX |
| EBITDA margin | 85.0% | EBITDA ÷ revenue |
| Payback (yrs, EBITDA / CAPEX) | 13.2 yrs | Full-stack simple payback |
"Make money at 8¢ and below, super competitive at 5–6¢, shit-ton of money at 2¢."
Doug Makishima · Call 1 ~31:39 · power cost thresholds
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