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How to set up a self-hosted cloud with Raspberry Pi
(iusearchlinux.fyi)
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A pi to host an SSD and run a plex server would take up as much space as two pair of socks in a sock drawer...
Just depends on what "hosting an on site cloud" means. If it's just backup storage and a local-only Plex server for one or two tvs, you could get away with the socks ;)