[crazygringo]

That is not correct.

IP addresses are intangible property and, at this scale, their cost would probably be amortized over a period of e.g. 20 years.

For accounting (and tax purposes), it's not one big up-front cost where everything that follows is pure profit.

Just because costs happen before income, it doesn't follow that all the income is profit. You have to look at things over the expected useful time frame of property.