[SMM Computing Power Flash] A100 40G Bare Metal for Rent in East China, Monthly Rent 8,800 Yuan Excluding Tax

SMM learned that in mid-August 2026, western Inner Mongolia optimized resource allocation by relying on the independent Mengxi power grid and the electricity multilateral trading mechanism, keeping comprehensive delivered electricity prices for data centers stable at 0.33–0.36 yuan/kWh, while prices for direct green electricity supply projects could be controlled at around 0.36 yuan/kWh. Previously, the Mengxi model of direct green electricity supply paired with co-located energy storage had already been successfully implemented (Phase I supplies about 761 million kWh of green electricity annually). SMM believes that the independent power grid combined with the multilateral trading mechanism has established a clear electricity cost anchor for the Mengxi hub, and low and stable delivered electricity prices will strengthen the overall cost competitiveness of computing power projects in the region.

SMM has learned that rental demand for the Huawei Ascend 910B series has continued to rise. Lessees prefer the 910B3 and higher-spec models, and the commonly accepted contract structure is the “two-year fixed plus one-year open” model. Previously, the low-price space for 910B2 monthly rentals at 12,000 yuan in east China has narrowed, while 910B4 bare-metal monthly rentals in southwest China at 16,000 yuan (tax inclusive) have expanded in volume. SMM believes that the demand side’s growing acceptance of higher-spec models and hybrid contract structures reflects that domestic computing-power leasing is shifting from price sensitivity to an equal focus on specifications and flexibility.

Today, the highest monthly rental for A800-80G full servers in the Yangtze River Delta rose 13.33% to 34,000 yuan, and the highest price of the 4090 in the Pearl River Delta rose 2.63% to 7,800 yuan. At the market level, second-hand H100 full servers traded at a discount of only 6.7%, highlighting asset preservation; the five-year fixed-price H200 contract at 120,000 yuan/month was on par with short-term rental prices, with no discount for long-term leases; and specifications of 910B3 and above as well as hybrid contract structures were favored. The price center of high-end computing power remained stable with a firmer bias, and the pricing system for domestic computing power leasing was taking shape at an accelerated pace.