# GPU inference economics: what to calculate before joining a pool

Understand the operating costs of language-model GPUs and why token prices, server utilization and the equipment owner’s revenue are different measures.

Author: Retrivium team
Updated: 2026-11-01
Canonical URL: https://retrivium.ai/journal/inference-economics/
Language: en

Hardware can be idle and still be expensive to operate. Before connecting to a pool, separate three questions: what it costs to maintain the machine, how much useful workload it can handle, and how much of that workload will actually be paid for. Answering one does not answer the other two.

## Map the expenses

Include whole-machine electricity, cooling, hosting, internet, support and a maintenance reserve. A server already purchased does not make future operations free. When deciding whether to continue operating, account for wear and alternative uses too.

Specify who bears each expense. The owner’s and operator’s calculations differ if one party pays for power and the other for administration. Do not deduct the same item twice from total revenue.

## Calculate electricity separately

The following hypothetical example is not a return forecast. Assume average measured server input power of 0.6 kW, 720 operating hours and a tariff of 0.12 notional currency units per kWh.

```text
Energy: 0.6 × 720 = 432 kWh
Cost: 432 × 0.12 = 51.84
```

This excludes cooling, powered-on idle time and other costs. Use measurements for your machine rather than the power supply’s rated capacity. The rating describes what the supply can deliver, not actual consumption.

## Do not confuse speed with sales

A benchmark result in tokens per second shows capacity in a specific scenario. It does not mean the server will continuously produce sellable tokens. Actual operation depends on user requests, the chosen model, context length and service constraints.

Input and output tokens may have different prices. Estimate their volumes separately, then account for payment rules, adjustments and contract terms. Do not multiply the peak speed of one test by an entire month.

## Consider three scenarios

Prepare cautious, working and favorable scenarios. Vary the share of time carrying paid workload and the request mix while keeping assumptions visible. Include a no-revenue case: can you stop the machine, and which costs remain?

Discussing terms makes sense after a [technical pilot](/journal/pilot-checklist/). Before the conversation, also review [owner payment models](/journal/revenue-share/) and [equipment usage accounting](/journal/capacity-reporting/).