For reference, in the US at least, there was/is a company called Joes Data Center in KC who would colo a 1U for $30 or $40 a month. I'd used them for years before not needing it anymore, so not some fly by night company(despite the name).
At that rate, that would buy you nearly 1000 years of hosting.
I was trying to avoid naming exact prices because it becomes argument fodder, but locally I can get good quality colo for $50/month and excellent quality coloration with high bandwidth and good interconnects for under $100 for 1U
I really don’t know where the commenter above was getting the idea that $400K wouldn’t last very long
At that rate, that would buy you nearly 1000 years of hosting.