[SMM Computing Power News] 5090 Hosting Investment Promotion Promises Annualized Returns Over 20%, Starting at 460,000 with Buyback Clause

Indices consolidated today. On September 16, the Hong Kong 5090 was quoted at $6,200 per unit, with the transaction discount widening from 1% to 3.2%–4.8%, more than tripling over two days. Actual transactions closed at around $5,900–$6,000, approaching the expected threshold. The divergence between quoted and transaction prices signals a potential peak, while yuan-denominated channels continued to follow the uptrend. In east China, 25 units of the 4090D were signed at an annual rate of 6,800 yuan, below the lower bound of the standard version. Supply is tightening, substitute specifications are filling the gap, and the floor for older models is rising. Perspectives among computing power participants are diverging, underscoring the need for a holistic view that integrates both computing power and electricity markets.

SMM learned that 25 RTX4090D units in east China have been listed for rental, with an annual contract at a monthly rent of 6,800 yuan per unit per month. Compared with the 7,000–7,300 yuan range for RTX 4090 units collected by SMM, this deal sits at the lower end, 200–500 yuan lower. The lessor reported that liquidity of RTX 4090 servers in the same region has declined and supply is insufficient. SMM believes that the RTX 4090D, with specifications below the standard RTX 4090, is filling the gap at a slightly lower price, reflecting tightening inventory of existing RTX 4090 units and renters beginning to accept substitute specifications. Previously, RTX 4090 unit resources peaked and lessors refused to sell at low prices, and the rental price floor for older models is now rising.

SMM has learned that the Hong Kong, China market is quoting the RTX 5090 at $6,200 per unit, with deals becoming harder to close. On September 14, market feedback indicated that sellers needed to cut prices by $50–$100, a discount of about 1%; by September 16, the required price concession had widened to $200–$300, a discount of 3.2%–4.8%, more than doubling within two days, while actual trading volume continued to decline over the same period. Based on the upper end of the price cuts, actual transactions were around $5,900–$6,000, approaching the $6,000 threshold expected on September 4. SMM believes that the accelerating divergence between quoted prices and transactable prices is typically an early signal that an uptrend is peaking. The yuan-denominated channel is still following the rally, and the two markets are diverging.