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Yes you can however since you just bought them and assuming they have little or no traffic a dedicated server is most likely overkill and/or a waste of money. Hell even if they have moderate traffic a shared or semi dedicated is still more cost effective. Now if these domains are already pulling 200GB+ each or you plan on doing heavy database and/or scripting then yes a dedicated server makes perfect sense. Otherwise you could put all five of those domains in an inexpensive (<$20/month) shared plan to start with then upgrade as needed.
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