Dynamic engineering tradeoff analysis: Physical power & liquid cooling scale vs Software orchestration & inference efficiency
| Telemetry Parameter | Physical Infra Heavy ($IREN) | Cloud Software Heavy ($NBIS) | Variance / Edge |
|---|---|---|---|
| Raw Substation Capacity | 50.0 MW | 50.0 MW | Parity |
| Facility Power Overhead (PUE Loss) | 5.36 MW (PUE 1.12) | 12.12 MW (PUE 1.32) | $IREN +6.76 MW Saved |
| Net IT Power Delivered to Racks | 44.64 MW | 37.88 MW | $IREN +17.8% Power |
| Effective GPU Compute Efficiency | 0.820 (82% Slot Occ.) | 1.392 (vGPU + Quant) | $NBIS +69.7% Yield |
| Annual Utility Power Bill | $28.47M / yr | $28.47M / yr | Equal Input Cost |
| Annual Token Output Yield | 3,389 B Tokens | 3,954 B Tokens | $NBIS +16.7% Tokens |
| Unit Cost per Effective MW Delivered | $0.638M / MW | $0.752M / MW | $IREN -15.1% Cost/MW |