I'm am wondering what you guys use in dedicated server hosting. Do you own the hardware yourself, or do you rent out a server somewhere?
For me, I actually use a laptop.

The image is not entire accurate as when I host it is connected to the Internet with Ethernet and has a USB powered fan cooler underneath.
Even though its processesing speed is low, it still manages to be a decent hosting machine. I only host one server at a time, and this laptop can easily handle that. The main benefit is that it's free, as I don't have to pay a monthly fee to run it.
What about you, how do you host your servers?