Depending on your current provider, there may be advantages moving your existing bare metal server to EC2. For example, what happens if the drive on your server fails? You'll probably need to write a backup script and write documentation on how to restore from it. If that happened to an EC2, AWS would just restart your instance on a new host and your EBS volume would come with it, and automated snapshots can be set up with a single click. Security groups are simpler to set up than configuring a Linux firewall. Lastly, EC2 has support for automated horizontal scaling with on-demand pricing and Spot instances. But none of these are a must-have, they are conveniences, and you pay a premium cost for it. Hetzner has servers with 64 GB memory for €37 per month, and a similarly-specced EC2 will easily be 10x that cost.