[SMM Computing Power Flash] H100 Cluster Long-Term Contract Price Negotiation: Owner 5-Year Closed 75,000

Published: Aug 19, 2026 17:58

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SMM learned that the long-term contract leasing of an operator’s H100 64-unit cluster in North China had entered the price bargaining stage. The owner quoted a 5-year closed contract at 75,000 yuan per unit per month, with one month’s deposit and three months’ prepaid rent. The lessee, a computing power service provider, had a target price of 73,500–74,000 yuan per unit per month, leaving a price spread of 1,000–1,500 yuan. The owner completed a background check on the lessee, finding its registered capital to be approximately 1 million yuan, while the annual rent for 64 units amounted to 57.6 million yuan. Based on this, the owner required the lessee to provide a one-year letter of guarantee and stated that other operators also assess contracting entities based on asset size. The owner noted that several clients were currently making inquiries, and another publicly listed firm had also quoted 75,000 yuan. The owner believed there was no profit margin at this price and was unwilling to lower it. In large long-term agreements for H100 clusters, the supply-side floor of 75,000 yuan and credit thresholds are both rising, making it difficult for the buyer’s 74,000 yuan target price to materialize in the near term.

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