GCP's "sustained use" discounts are pretty great, but they also offer "committed use" discounts as well that give even lower pricing for 1 and 3 year terms, effectively cheaper than most dedicated hosting providers while getting all the benefits of running in the Google environment.
Another great feature is that discounts are based on cores/ram rather than any specific instance type. This makes it easy to get discounts even with fluid usage of the VMs themselves.
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