this depends on your datacenter i would wager. If the energy of your server is green and the heat is reused, as some modern datacenters do, the only concern be

this depends on your datacenter i would wager. If the energy of your server is green and the heat is reused, as some modern datacenters do, the only concern becomes EOL of hardware and how quickly they change it. Otherwise, yeah, shared cloud vm is always more economic than single hosted hardware of any kind.