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My 32 TB Plex server running on a ministack. It ain't fancy but it gets the job done.
(lemmy.blahaj.zone)
I've been running a full tower Windows server with a dozen drives for a decade and decided to downsize. This ministack does everything I need at a fraction of the power, noise, and heat.
I use it primarily for Plex but also host a few games servers for buddies. It fits perfectly in my entertainment center.
Spent around $200 on the Mac Mini plus $600 on the drives and enclosures. I'm using SoftRAID for RAID1.
That's assuming you can afford the storage to store multiple copies of your media.
You can convert most movies to 1080p x265 and it takes up a little over a gigabyte of space. If you're already hosting 4K movies, why do you give a shit about another gigabyte? If you're NOT hosting 4K movies, then you have ZERO reason to transcode, just make everything 1080p and call it a day.
Also, transcoding DOES cost you money, your electric bill goes up, even if you don't track it or care. So spend the extra fifty bucks on a few extra terabytes now rather than spending it over the course of several months transcoding. And if you cut out transcoding, you can run Plex on VERY cheap hardware, so that saves you money too.
Transcoding. Is. Dumb.