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Even the $30-50 month servers are probably not that speedy for video encoding unless you're doing low quality fast transcodes (like Plex). I know you can use dedicated instances at Vultr and whatnot. But you'd have to shut it off after you transcode or end up paying a lot of money. I think scaleway is supposed to have high workload servers sometime soon.
Check here http://www.wjunction.com/94-other
Maybe you will get what you want