Hardware manufacturers unveiled updated machines this quarter with efficiency improvements measured in single-digit percentages, a slowdown from the leaps of earlier generations.

With gains narrowing, purchasing teams say negotiations now centre on warranty terms, firmware access and guaranteed delivery windows rather than unit price.

Firmware matters because under-clocking a machine to chase curtailment revenue requires controls that some vendors restrict.

Secondary-market supply has grown as fleet upgrades accelerate, giving smaller operators access to serviceable equipment at steep discounts.

Manufacturers are pointing to packaging and cooling design rather than process node shrinks as the next source of improvement.