Unit Economics
Does the business work? Margin by model, country, GPU. Cost per developer. Earnings per node.
Revenue / 1M tokens+2.4%
$0.39
Node payout / 1M+1.6%
$0.12
Infra cost / 1M-1%
$0.05
Margin / 1M+3.2%
$0.23
Margin %+1.2%
58%
Cost / active dev
$18
Revenue / active dev+11.2%
$6.19
Earnings / active node+6.4%
$1.41
Per operator session (may run multiple GPUs)
Earnings / active GPU+4.8%
$0.55
Per physical GPU across 8,146 active units
Margin (%) — last 90 days
Revenue / payouts / infra (14d)
Margin by model
| Model | Revenue 30d | Cost 30d | Margin $ | Margin % |
|---|---|---|---|---|
| Llama 3.1 405B Instruct | $7.2K | $4.3K | $2.9K | 40% |
| DeepSeek-R1 | $3.3K | $1.7K | $1.6K | 48% |
| Llama 3.1 70B Instruct | $2.6K | $1.4K | $1.3K | 48% |
| Mistral Large 2 | $1.9K | $985.2 | $909.4 | 48% |
| Qwen 2 VL 72B | $1.2K | $645.3 | $595.7 | 48% |
| DeepSeek-V3 | $863.9 | $449.2 | $414.7 | 48% |
| DeepSeek Coder V2 | $796.6 | $414.2 | $382.3 | 48% |
| Qwen 2.5 72B Instruct | $786.6 | $409 | $377.6 | 48% |
| Mixtral 8x22B Instruct | $587.1 | $305.3 | $281.8 | 48% |
| QwQ 32B Preview | $360.5 | $165.8 | $194.7 | 54% |
Margin by country
| Country | Revenue | Payouts | Implied margin |
|---|---|---|---|
| India | $2.7K | $168.4 | 93% |
| United Kingdom | $2.1K | $142.8 | 92% |
| United States | $1.3K | $409.6 | 62% |
| Germany | $1K | $158 | 81% |
| Singapore | $958.2 | $111.6 | 86% |
| Saudi Arabia | $777.1 | $71.9 | 89% |
| France | $740.1 | $95.4 | 85% |
| Türkiye | $667.2 | $77 | 86% |
| Switzerland | $659.2 | $22.1 | 96% |
| Argentina | $637.5 | $51 | 90% |
Earnings by GPU model
Per GPU unit and per operator (node may run multiple GPUs)
| GPU | Active GPUs | Per GPU / mo | Per operator |
|---|---|---|---|
| RTX 4090 | 1,774 | $0.52 | $1.08 |
| RTX 4080 | 754 | $0.37 | $0.89 |
| RTX 3090 | 1,227 | $0.5 | $1.15 |
| RTX 3090 Ti | 385 | $0.52 | $1.17 |
| RTX 3080 | 1,603 | $0.18 | $0.41 |
| RTX 3080 Ti | 430 | $0.2 | $0.39 |
| RTX A4000 | 245 | $0.39 | $0.85 |
| RTX A5000 | 196 | $0.48 | $1.09 |