Ohh, I really completely miss this, I thought a month, I am sorry for this. In this case, I agree you need much more stronger server.
Yes, you need little more complicated setup in this case.
I think you can try start with VPS server, Dedicated server is not required for now.
4 GB RAM, SSD, Intel Xeon, 2 cores, and 2 TB bandwidth will be enough for you, You can try with this and if needed you can always move to dedicated server.
$799 is too much, take a look at digitalocean, linode...
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